Miratorg will allocate RUB 100 billion (US$ 1.6 million) to the development of the pig division in the Kursk Oblast. With the construction of the 60 pig farms within the coming three years Miratorg previously expected to invest RUB 85 billion (US$ 1.4 million).
This project is one of the largest in Russia. It has the total capacity of 3.7 millions heads of pigs per year with the production of 346,000 tonnes of pork per year, and with the farms, it provides the construction of four feed mills, processing capacity and sowing of 165,000 ha of agricultural land for the production of necessary feed crops.
Representatives of the company explained that the increase of the investment cost of the project is primarily connected with the recent fluctuations of the Russian currency. The initially announced amount of RUB 85 billion at the beginning of 2014 was equaled to about US$ 2.5 billion.
Previously Miratorg already built 10 automated pig farms in Kursk Oblast with a total capacity of more than 80,000 tonnes of meat in live weight per year.
In June 2014 in Kursk Oblast a processing plant with the capacity of 42,000 tonnes of pork per year was launched. As of 1 January 2015 the number of livestock on farms of Miratorg in the Kursk Oblast was totaled 288,000 heads.
Last year the investments of Miratorg in the Kursk Oblast reached RUB 4.7 billion (US$ 0.7 million). In 2015 the volume of investments should reach RUB 9.8 billion (US$ 0.6 million).