Tkachev Agrocomplex to increase investment in development 70% in 2024

KRASNODAR. Jan 22 (Interfax) - Tkachev Agrocomplex, one of Russia's largest agricultural holdings, invested 6.3 billion rubles in development in 2023, General Director Evgeny Khvorostina told Interfax.

Investments in development are planned to increase 70% in 2024 to 10.7 billion rubles, he said.

Khvorostina said that in the past year, the lion's share of the funds, 3.8 billion rubles, was spent on updating the company's agricultural machinery. More than 500 units of equipment were purchased as part of the program.

In 2023, 1 billion rubles were allocated for the modernization of livestock farms and sugar factories. The processing capacity of the Tikhoretsky sugar plant was increased to 9,500 tonnes per day, while Korenovsksakhar JSC increased to 7,000 tonnes per day. In addition, 300 million rubles went to modernize the Moloko-2 enterprise, increasing production capacity from 300 to 450 tonnes of products per day, as well as expanding the product line.

The renewal of the Agrocomplex agricultural enterprise tractor and agricultural machine fleet will continue in 2024, and purchases of about 600 units of equipment are planned.

In addition, this year a project will begin for the construction of a breeding facility for the parent flock of broiler laying hens at the Korenovskaya poultry farm in the Krasnodar Territory. Production of 26 million hatching eggs per year will completely replace imports and provide the company with hatching eggs.

The company also plans to increase the capacity of the Pavlovsk sugar plant.

The Tkachev Agrocomplex belongs to the family of former Russian Agriculture Minister Alexander Tkachev, and includes 30 agricultural enterprises in the Krasnodar Territory and Rostov Region. Its main activities are livestock breeding, crop production, agricultural processing, food production, and retail.

The company is one of the largest owners of agricultural land in Russia.