UK-based company Aviagen, one of the world's largest poultry breeding companies, will invest over $28 million in building a poultry farm in the Nikolsky district of Russia's Penza Region, Sergei Kapralov, the economy minister of the region, said on Friday.
SARATOV (Pakistan Point News / Sputnik - 31st August, 2018) UK-based company Aviagen, one of the world's largest poultry breeding companies, will invest over $28 million in building a poultry farm in the Nikolsky district of Russia's Penza Region, Sergei Kapralov, the economy minister of the region, said on Friday.
Earlier in the day, regional lawmakers endorsed an investment agreement between the local government and Aviagen Turkeys Ltd, which is part of the Aviagen Group.
"The project envisages building 10 facilities to produce turkey eggs on the territory of the Nikolsky district. The investment for 2018-2019 will reach 1.9 billion rubles [$28.1 million]," Kapralov said at a session of the regional parliament.
The investment was expected to pay off in nine years, and the last of the planned facilities was to be put into operation in the second half of 2019, the official added.
In 2017, the regional government said that Aviagen was choosing between Nikolsky and Sosnoborsky districts to implement a project on producing turkey eggs jointly with Russia's Damate Ltd.
