OREANDA-NEWS. "Bryansk Meat Company", included into ABH "Miratorg", informs that it signed credit agreement with Vnesheconombank for the amount of USD 425,8 million for the period of 15 years within the project of high quality beef production capacity increase.

"Miratorg" built from scratch vertically-integrated beef production "from the field to the shelf" in Bryansk region, and invested 32,2 billion rubles into the "pilot" project, including USD 571 million and 66 million euro from the credit sources of Vnesheconombank, employed in 2010.

At present day the assets of the project include pastures and cultivated fields on the area of over 200 thousand ha, 110 thousand heads of parent stock of specialized beef cattle breed Aberdeen-Angus at 33 cattle farms, feedlot and meat packing plant, that was started up in October, 2014 and has already supplied over 3300 tons of high-quality national products to the market.

The next stage of production development foresees doubling of the basic indicators of the "pilot" project: recovery of over 200 thousand ha of abandoned fields, expanding of parent stock up to 500 thousand heads, construction of 31 new farms, increasing of beef production yield up to 130 thousand tons per year.

The VEB's participation in the financing of the project "Increasing the capacity of the production complex for high-producing beef cattle stock and cattle slaughter and primary processing plant" was approved by the Supervisory Board of Vnesheconombank in July 2014. The total project cost is USD 871.5 million, Vnesheconombank loan - USD 742 million provided by the two lines of credit in the amount of USD 425.8 million and USD 316.2 million, for a period of 15 years.

Vnesheconombank's loan will allow to quickly launch new livestock assets in Oryol, Kaluga, Bryansk, Tula, Smolensk and Kursk regions, creating a cluster for the production of high-producing beef breeds of cattle. The expansion inspires the employment creation, provides tax revenues to local budgets, and will have a positive effect on related industries: service, transport and trade.

"Miratorg" completed business-plan of the "pilot" project in full - we actually recovered sub-branch of industrial beef cattle breeding in Russia, thanks to financing by Vnesheconombank and government support. Doubling of the project is the possibility not only to reduce dependence of our country on beef import within the short period of time, but to come over to active foreign markets expansion. National beef doesn't underperform the foreign one in terms of quality, safety and assortment, as for the price - we're more than competitive", - the president of ABH "Miratorg" Victor Linnik said.