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.

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