The ceremony took place at the St. Petersburg International Economic Forum on Friday, 25 May 2018.
The agreement initiated a new phase of the investment project to establish the largest plant in Europe specialising in turkey production and processing. The preliminary cost of the project is estimated at 5.7 billion roubles.
Commenting on the document, the parties emphasised that the launch of new production facilities will effectively address the priorities of social and economic development of the Penza region and contribute to enhancing export capacities and ensuring food security of the country.
“Russian Agricultural Bank focuses on the investment projects aimed at manufacturing competitive Russian products. The bank and Damate Group have been successfully cooperating for more than seven years. During this time, we have provided loans to the group amounting to some 54 billion roubles. Joint implementation of large-scale projects enables advancing Russian agriculture and providing consumers with high-quality foods, creates new standards. The agreement signed today confirms our commitment to participate in the development of the real economy in the Penza region,” noted Boris Listov, acting Chairman of the Board of Russian Agricultural Bank JSC.
“In recent years, Russian Agricultural Bank and Damate Group have been good partners. Their cooperation allows developing the economy of the Penza region through running the largest investment project in the history of the region. This means increased production, new well-paid jobs, higher tax base, and development of areas. The Government of the Penza region has been and remains an active participant within triangular interactions. We will support these ties in the future, since it concerns the prosperity of the Penza region and its residents,” Ivan Belozertsev, Governor of the Penza region, said after the ceremony.
“Such large-scale projects can be implemented only through joint efforts of all parties involved,” stressed NaumBabayev, Chairman of the Board of Directors of Damate Group. “We have many years of successful cooperation. We are sure that the launch of a new plant for deep processing of turkey meat in the Penza region will play its role not only in the development of the region, but also in the industry as a whole”.
Damate Group, the largest turkey meat producer in Russia, is carrying out a project to expand its production capacity to 155,000 tonnes in carcass weight per year. The vertically integrated structure of the complex includes all stages of production. Damate products, with more than 300 items, are exported to the EU, as well as to Serbia, the UAE, Vietnam, Hong Kong, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, and African countries.
