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Russian pork processor receives loan of €50m

//03 Aug 2006

Russian Cherkizovo Group, an integrated meat processing giant, is about to receive a €50 million loan from the Russian Gazprom bank.

The loan's destination is the group's subsidiary Lipetskmyasoprom. There the second stage of a pig farm in the Lipetsk region will be built.

According to Tass news agency, the farm already received a loan from the same bank of approximately €44 million for building the first stage of the project.

The farm is scheduled to generate 50,000 tonnes of pork per year. The meat processing group is also building another pig farm in the Tambov region which will have about half the production.

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