A new joint venture between Damate Agribusiness and the Penza Region of Russia, will see them become the the largest producers of beef and turkey meat in the country.
Damate Agribusiness, which is itself a JV between Rusmolco, a Russian company and the Olam International from Singapore, is already an agricultural investment project unprecedented in size, so the establishment of this new JV is in line with their aggressive program for agriculture development in the Penza Region.
The JV plans to construct and additionally build up the cattle and turkey production facilities which are set to include incubation, feeding and growing facilities. Other sections of the facility will include a processing and packing plant, a combined feed plant and other accompanying infrastructure.
Once all construction for the joint venture has been completed and is operational, the Penza Region will become the largest producers of turkey meat and beef in Russia, with an output of 109.5 tonnes of meat and meat products. This equates to 1.5% of the overall production of meat and meat products in the Russia. The income from the development of related industries in the Penza is approximated at 9.8 billion Roubles.
