Hungarian, Russian JV to raise 1 mln geese a year

Crops

Hungarian poultry company Hortobágyi Lúd and Russian Ecofarm Zvenigovo signed an agreement yesterday at the Hungarian embassy in Moscow under which they will establish a joint venture for a goose farm in Kirov Oblast, the Ministry of Foreign Affairs and Trade reported.

The joint venture is expected to be launched with startup capital of €2 mln, while the Russian partner is expected to invest a further EUR 12-15 mln over three years. The two firms plan on raising 1 million geese a year on the farm and producing 500 tons of feathers and down, to generate annual revenue of €20 mln.

According to the ministry, the Russian partner initiated the deal, in seeking Hungarian business’ knowledge.

ADVERTISEMENT

Reforms to raise productivity would strengthen recovery - OE... Analysis

Reforms to raise productivity would strengthen recovery - OE...

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.