NIZHNY NOVGOROD, Feb 21 (PRIME) -- Norwegian company Russia Baltic Pork Invest plans to invest at least 7.2 billion rubles in construction of two pig breeding facilities in Russia’s Nizhny Novgorod Region, the region’s government said in a statement on Wednesday quoting Governor Gleb Nikitin.
The capacity of the facilities will stand at 180,000 pigs each, and the company will invest 3.6 billion rubles in each facility, the government said.
The government of the region signed a cooperation agreement with the Norwegian company’s subsidiary Pravdinskoye Svino Proizvodtsvo-2, encompassing cooperation until 2023 and an automatic prolongation of the term for each consecutive year if the parties of the agreement do not object.
Previously, the government said that projected capacity of the two facilities completely covers internal demand of the region for pork.
(56.5201 rubles – U.S. $1)
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