Cherkizovo Group and Grupo Fuertes signed an agreement to build an integrated turkey production complex May 17th.
The turkey meat production joint venture will be called Tambov Turkey, and will be built on a 5000 ha site in the Tambov region of Russia. Its annual capacity is expected to be 25-30,000 tonnes of turkey meat.
The total planned investment is RUR 4.5 billion (€113.1 million). Cherkizovo and Grupo Fuertes will contributre equally to the financing of the project using existing funds and through bank loans.
The complex will be built in the Pervomaiskiy district, and the Tambov regional administration has agreed to provide the necessary infrastructure for its construction.