Vnesheconombank to consider the possibility of participating in funding poultry complex in Ingushetia

Vnesheconombank Chairman Sergei Gorkov, Head of the Republic of Ingushetia Yunus-Bek Yevkurov and Director General of Yuzhny Integrated Poultry Complex Adam Kostoev signed an agreement on cooperation.

The parties agreed on strategic partnership, long-term and effective cooperation in implementing an investment project oncreating a poultry complex for growing turkeys and deep processing of turkey meat with a capacity of 10 235 tons per year.

Under the agreement the region’s leadership is ready to provide support for the poultry complex upon implementing the project in subsidizinginterest rate on a credit,tax allowances, providing engineering infrastructure.

In its turn, Vnesheconombank intends to carry out expert examination of the project anrender consultancy assistance upon preparing documentation and consider funding the project.

The project is of great socio-economic significance for the region: they expect to create 450 new permanent jobs at a main production facility and more than 1000 jobs in related sectors of the Republic of Ingushetia. An expected amount of revenues in budgets of all levels for 15 years of the project’s implementation will amount to 2.6 billion rubles.

According to the Memorandum on Vnesheconombank’s Financial Policy, agro-industrial complex is one of the Bank’s investment activity sectoral priorities.

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