MOSCOW – Russia’s second-largest poultry producer, OAO Cherkizovo Group, began building a new poultry complex in Yelets that is estimated to cost $696 million, according to Bloomberg. It is scheduled to start operations in 2013 and reach full capacity by the end of 2015.

Once completed, the new complex will include a feed-producing unit, hatchery, slaughter complex and a waste-utilization facility.

According to the company, the plant will produce more than 500,000 metric tons of poultry a year by live weight, which equates to almost 13 percent of Russian poultry output in 2010, according to the Federal State Statistics Service. Annual production of poultry meat is planned to exceed 200,000 tons, the company said.