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19.01.2017 Lithuania's Arvi Kalakutai launches EUR 30 mln turkey product complex in Belarus

Arvi Kalakutai, a turkeymeat product manufacturing and trade arm of Arvi ir Ko, a Lithuanian businessgroup owned by Vidmantas Kucinskas, has launched a 30-million-euro complex inBelarus, reports LETA/BNS.

The company told Arvibelagro, which hasmeat production facilities, turkey farms and a slaughterhouse, had startedoperations in the Lida region.

The company said that Belarusian banks had providedloans to help finance the project. The Interfax news agency reported thatBelarus' BPS-Sberbank was among the lenders.

Arvibelagro plans toraise over 420,000 turkeys and manufacture around 7,200 tons of 80 differentturkey products annually for sale in Belarus and in the European Union.

Arvi Kalakutai posted27.039 mln euros in consolidated revenue for 2015, up 56% from 17.334 mln eurosin 2014. Its net profits surged by 76.7% y-o-y to 471,300 euros.

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