Vnesheconombank Finances Miratorg’s Project to Increase High-Quality Livestock Production

With financing provided by Vnesheconombank, Miratorg is increasing high-quality livestock production. During his visit to the Bryansk Region, Vnesheconombank’s First Deputy Chairman and Member of the Board Nikolay Tsekhomskiy was given a tour of Europe’s largest facility producing high-grade marbled beef. The project is run by Bryansk Meat Company, a subsidiary of Miratorg.

Nikolay Tsekhomskiy was invited to see breeding fields, a tannery construction site, a feedlot and a modern advanced production site. He was also shown the operation of controlling and monitoring systems. Bryansk Meat Company is the mainstay of Russian beef farming, building facilities in the Bryansk, Oryol, Kaluga, Tula, Smolensk and Kursk Regions.

Overall, with financing provided by Vnesheconombank, the agribusiness company built 75 farms with a total of over 550,000 head of cattle and constructed and put into operation a modern advanced cattle slaughtering and processing facility with a capacity of 400,000 head of cattle a year. The area of farmland used for fodder production and grazing in the regions is more than 500,000 hectares. The project created over 8,700 jobs with an average monthly salary of 35,000 roubles. A section of the slaughterhouse dealing with the processing of other meat products is in the design phase. Work continues on constructing a hide processing plant, freezing rooms and a meat storage facility.

Nikolay Tsekhomskiy and Victor Linnik, President of Miratorg, had a meeting to discuss the growth prospects of the company.

«Miratorg is undoubtedly a leader in Russian livestock production. The quality of Miratorg’s finished products can rival that of the world’s best producers. Our visit to Bryansk Meat Company convinced us that our partners had been able to build up a successful, vertically integrated business model using state-of-the-art technology and giving as much attention as possible to production efficiency and management quality throughout the value chain," Nikolay Tsekhomskiy said.

«Financing provided by Vnesheconombank helps us to effectively carry out infrastructure projects with a long payback period. It is important that we fulfil all our obligations, while the Bank is willing to finance new production projects with great export opportunities," Victor Linnik, President of Miratorg, said.

The Supervisory Board approved Vnesheconombank’s financing for the pilot project for beef production in 2010. Miratorg started the construction of the first two cattle farms in January 2011. Six months later, the company received from Australia the first batch of animals, namely 6,000 head of Aberdeen Angus cattle. Vnesheconombank’s participation in the project to expand the capacity of the facility was approved in 2014.

The Bryansk farms currently have more than 358,000 head of cattle, with tens of thousands of calves born in Russia every year.

Overall, Vnesheconombank is involved in 20 agribusiness projects totalling over 254.8 billion roubles.

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