OREANDA-NEWS. December 24, 2013. This announcement was made by Sergey Mikhailov, CEO of Cherkizovo Group, during a meeting with analysts from the largest investment banks.

He said that the bulk of the investment sum, 5 billion roubles, will be dedicated to development of poultry production; of that amount, 3.7 billion roubles are earmarked for new projects.

Capital expenditures on developing pork production are projected at 1 billion roubles, and 700–730 million roubles will go toward meat processing. Mr. Mikhailov said that the money will be directed to supporting manufacturing as well as implementing a new project.

Around 350 million roubles will be devoted to grain production. Of that amount, 150 million roubles will be spent on expanding the land bank. According to Mr. Mikhailov, by the end of Q3 of 2013, the company’s capital investment amounted to more than 3.5 billion roubles.