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Lithuania's Arvi Kalakutai launches EUR 30 mln turkey product complex in Belarus
BC, Vilnius, 18.01.2017.
Print version
Print versionArvi Kalakutai, a turkey meat product manufacturing and trade arm of Arvi ir Ko, a Lithuanian business group owned by Vidmantas Kucinskas, has launched a 30-million-euro complex in Belarus, reports LETA/BNS.
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The company told Arvibelagro, which has meat production facilities, turkey farms and a slaughterhouse, had started operations in the Lida region.
The company said that Belarusian banks had provided loans to help finance the project. The Interfax news agency reported that Belarus' BPS-Sberbank was among the lenders.
Arvibelagro plans to raise over 420,000 turkeys and manufacture around 7,200 tons of 80 different turkey products annually for sale in Belarus and in the European Union.
Arvi Kalakutai posted 27.039 mln euros in consolidated revenue for 2015, up 56% from 17.334 mln euros in 2014. Its net profits surged by 76.7% y-o-y to 471,300 euros.
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