Volga | Finance, business

Moscow’s Cherkizovo to take over Samara poultry farms

21 Jul '08
Moscow-based agro-holding Cherkizovo Group intends to buy four poultry farms from Samara’s agricultural company Ptitseprom, regional officials report.

Sergey Lebedev, head of the livestock breeding office of the regional Ministry of Agriculture, says regional authorities are ready to provide all forms of support to the investor, including subsidies at the inception phase of the project.

Experts estimate the value of the deal at between $30m and $40m only as Ptitseprom has been out of use for some time and will require investment in a major upgrade.

The factory’s potential capacity is 20,600 tons of chicken a year.
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