Damate Group, as part of a mutton production project in the North Caucasus, has begun reconstruction of the Kavkaz Myaso slaughter plant in Cherkessk. Investments in modernization of production will amount to RUR 2.7 billion ($ 34.55 million), according to the company press release.
The reconstruction is scheduled to be completed in May 2021. The financial partner of Damate is the Russian Agricultural Bank (the Omsk branch is the Omsky Biocluster member). As a result of full commissioning, the production capacity will amount to 720,000 heads per year. The company plans to produce 42 tons of products per day, or 12,600 tons of carcass weight per year. The plant will produce semi-finished products from mutton, minced meat, marinades and canned food. The products will be halal and kosher certified. The plant will create about 450 new jobs.
Damate Group is the leading producer of turkey meat in the Russian Federation. The company is also engaged in dairy farming and milk processing. The group's revenue in 2019 increased by 48.8%, to RUR 26.3 billion ($ 336.55 million), net profit - 2.5 times, to RUR 1.49 billion ($ 19.07 million).
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