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VEB to extend a credit to LLC The Bryansk Meat Company to increase the stock breeding complex capacity

27 january 2015 года
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Vnesheconombank and LLC the Bryansk Meat Company (it is incorporatedin the MIRATORG agribusiness holding company) signed a credit facility agreement worth 425.8 million US dollars.

VEB’s credit facilities are to be used to implement a project “Increasing Capacity of the Complex to Raise Highly Productive Cattle Meat Breeds and the Complex to Slaughter and Initially Process Cattle”. This is the first part of the credit worth 742 million US dollars approved by the Bank’s Supervisory Board in July of 2014. The project’s total value is 871.5 million US dollars; its implementation would make it possible to increase the complex’s capacity to 120 thousand tons of top-quality beef per year.

VEB’s credit facilities are to be used to fund the construction of 31 new farms and to additionally purchase 90 thousand heads of highly productive breeding cattle, agricultural machinery has been purchased for fodder procurement, 200 thousand hectares of agricultural lands have been provided to create their own fodder base.

The project is of national significance and it is designed to ensure food security and import substitution.

VEB has been participating in implementing the investment project “Creation of a Complex to Raise Highly Productive Cattle Meat Breeds and a Complex to Slaughter and Initially Process Cattle” in the Bryansk region since 2010. Under the project, 112 thousand heads of pedigree Angus cattle of the highest genetic lines have been purchased, 200 thousand hectares of lands have been returned to agricultural use, 33 farms and a feedlot for 45 thousand heads of cattle as well as a high technology plant to slaughter and processcattle with a capacity of 400 thousand heads of cattle per year. The project’s value is 911 million US dollars, with the Bank’s funding volume being 571 million US dollars and 66 million euros. The British Magazine Trade Finance awarded the Best Deal of the Year 2012 Award tothe project to build a complex to raise highly productive cattle meat breeds and a complex to slaughter and initially process cattle in the Bryansk region.


Press Office of Vnesheconombank
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru


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