Charoen Pokphand to invest $500m in Russia
Charoen Pokphand Foods (CPF), Thailand's leading agro-industrial and food conglomerate, is planning to invest up to 15 billion roubles (US$ 500 million) in further expansion of its Russian meat business, according to the company's reports.
Most of the funds will be invested in the construction of a new large agricultural holding, which will complement an already existing feed-milling plant, piggeries and a meat-processing plant owned by CPF in Russia. In addition, CPF, is currently in talks to launch its own retail chain in Russia.
According to Charoen Russia deputy director general Surat Rakhimbabaev, currently the company is completing the construction of two pig complexes, which will include a multiplication farm designed for 2,400 sows and fattening complexes for 28,000 pigs. Their official launch is scheduled for May 2010.
In addition, this year CPF also plans to build two pig farms in the Kaluga region. By the end of 2013 Charoen Pokpand Foods, "Will increase the number of its pigs in Russia up to 1 million head,” said Rakhimbabaev.
Russian pork market
According to Russian analysts, with a successful launch, Charoen will be able to enter the top ten largest operators of the Russian pork market.
Rahimbabaev also said that some of the funds could be invested CPF in buying of a meat-packing plant in the Moscow region as well as the existing retail chain in order to develop the company's own Seven-Eleven network of economy stores. (Evegen Vorotnikov)
• Charoen Pokphand Foods
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