Funding: Cherkizovo builds a new production f...
Funding

Cherkizovo builds a new production facility

Cherkizovo
Gazprombank’s retail business is focused on providing modern high-tech products and services.
Gazprombank’s retail business is focused on providing modern high-tech products and services.

RUSSIA, Moscow. Gazprombank and Cherkizovo Group signed a loan agreement to finance the construction of a high-tech automated production facility for slaughtering pigs and processing pork in the Tula Region.

The slaughtering and processing facility in the Tula Region will boost Cherkizovo’s high value-added capacity to 500,000 t per year. Additionally, the new factory will create over 2,000 highly-paid jobs in the region.

Gazprombank will grant Cherkizovo a 12-year credit facility, providing RUB 40.8 bn of the RUB 48 bn to be invested in the project. The deal is structured as a project financing arrangement under the Ministry of Agriculture's concessional lending program for agricultural producers. Gazprombank ranks among Russia’s Top 3 banks by main volume indicators (according to Interfax-100. Russian banks) and is one of the largest financial institutions in Central and Eastern Europe.

Source: Cherkizovo

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