Damate invests $ 93.2 million in dairy farming
09 August 2018
The Russia-based agricultural group of companies Damate, headed by Naum Babayev, intends to expand its dairy complex "Tyumen Dairy Farms" in the Tyumen region. As a result of the investment, estimated at RUB 1 billion ($ 15.5 million), the number of cows will be increased from 4,600 to 6,000. The construction will be financed, in part, by the company's own funds and, in part, through an additional loan from Rosselkhozbank, which approved an increase in the credit limit for the group in late July. Thus, the total cost of the project in the Tyumen region will be RUB 6 billion ($ 93.2 million). The construction is expected to begin in the near future and be finished by the end of 2019. The company plans to import heifers of Holstein-Frisian breed from the Netherlands and Germany. As a result of the project, the volume of milk production of Damate will reach 150 tonnes per day or 55,000 tonnes per year.