Seimar OJSC signed a contract with Italian companies on delivery of equipment for battery farms for $30 mn

/Kazakhstan today,September 24, 03/ - Seimar OJSC signed a contract with a number of Italian companies on delivery of new computerized equipment for battery farms for $30 mn. Morgulan Seisenbayev, the Chairman of the Board of Directors of Seimar OJSC informed the journalists about this fact during the press conference on September 24 in Almaty. 40% of the total amount is financed by Nurbank, 35% is lent by syndicate of Italian banks through SACE insurance agency, 5% is given by Agrarian Credit Corporation, 20% of the investments is from company's own capital. The average interest rate of loans totaled to 8%, maturity - 5-8 years, According to a contract the equipment is to be installed and explored at OJSC's enterprises starting from October 1, 2003. According to M. Seisembayev, during 2004 - 2005 company's all enterprises will fully replace equipment and technology. At battery farms, new system of farming, when one family of farmers rents from a company and serves up to 4 standard poultry-yard, will be introduced and the technology provides for atomization of production and reduction of human element. As expected with installation of a new equipment, the productivity of the company will increase in 2004 to 16 th tones of poultry a year, in 2005 - to 25 th tones of deadweight per year, the production of eggs will reach 500 mn a year. It is supposed that production of chicken meat will reach 70 th tones per year, and eggs - 1 bn pieces per year. In addition all eggs will be selling at domestic market of the RK, 50% of poultry will go as an export to CIS countries. At present time, Seimar OJSC produces 1.1 mn of eggs and 22 tones of poultry a day. [2003-09-24]