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Agricultural Bank Backs Duck and Poultry Complex

3 August 2012, at 8:27am

RUSSIA - The Russian Agricultural Bank, Rosselkhozbank is putting forward 1.6 billion rubles in finance for the construction of a poultry complex in the Rostov region.

More than 600 million rubles has been provided by the Rostov branch of the Agricultural Bank of "Donstar" during the second quarter of 2012.

The funds are to build a complex for raising ducks and for a poultry processing plant.

The credit resources are focused on both on the building of the complex and for economic projects as well as the purchase of equipment, machinery and transport.

Rosselkhozbank offering three lines of credit amounting in total to more than 5 billion rubles.

Since 2011, the Bank has provided 1.6 billion rubles in financial support for the project.

After completion the facility will have a closed loop fully automated plant for the production of eggs for breeding ducks to meat processing and the distribution of products.

"The complex under construction will not only meet Russian standards but also European standards," said General Director of Donstar Vadim Benaiah.

"Its production capacity will reach 20,000 tonnes of meat per year. The complex has been designed to comply with the strictest of sanitary standards and safety regulations."

Chairman of the Board of the Agricultural Bank, Dmitry Patrushev, said the development of the domestic poultry industry is associated with the creation of modern high-tech enterprises and the diversification of products.

He added that the Russian Agricultural Bank supports similar projects across the country.

The complex in the Rostov region will increase the competitiveness of the sector and strengthen the economic potential of rural areas in the region, he added.