SuKarne invests US$100 million in cattle feedlot in Nicaragua

May 13, 2011 - PRLog -- SuKarne, one of the most important agribusiness companies in Mexico, recently inaugurated its US$100 million large-scale, intensive cattle fattening project in Nicaragua. The project includes a slaughterhouse and boning plant that will operate under strict quality standards. In this initial phase, the investment includes ten feed storages strategically located for direct feeding of livestock, equipped with feedlots for a permanent inventory of 50 thousand cattle head.

The inauguration was presided Daniel Ortega Saavedra, President of Nicaragua, and  Jesus Vizcarra Calderon, Chairman of the Board of Directors of Grupo Viz/SuKarne, who were accompanied by Mexico's Secretary of Agriculture, Livestock, Rural Development, Fisheries and Nutrition, Francisco Javier Mayorga Castaneda, and Mexico's Ambassador to Nicaragua, Raul Lopez Lira.

The project, SuKarne’s first investment outside of Mexico, constitutes a major investment in the country's livestock sector and has created 1,000 direct jobs in Nicaragua. It is also estimated that 20,000 local cattle farmers will benefit by having a local purchaser, while participating in an extensive program of grain and fodder production.

During the inauguration, Vizcarra Calderon mentioned that “Mexico and Nicaragua are bound together by brotherhood and friendship between our people because we have much in common, such as the importance our economies assign to the food production chain, and the fact that both nations have been working on comprehensive livestock development to improve rural producers’ quality of life.”

The project has been financed from its initial phases by the world's largest livestock bank, Rabobank of Holland, in collaboration with the Latin American Agribusiness and Development Cooperation (LAAD), and has already secured additional pre-authorized lines of credit from the Inter-American Development Bank (IDB) and the Mexican bank, Inbursa.

SuKarne, founded more than 40 years ago, is now one of the largest companies in Mexico, and a key player in the production and sale of animal protein at a global level. The Grupo Viz/SuKarne and Agrovizion companies generate more than 6,000 direct jobs, reaching some 40,000 customers, and have operations with companies in 18 countries, while their productive chain includes more than 80,000 agricultural and livestock suppliers.

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PRONicaragua is the Nicaraguan Investment Promotion Agency, established in 2002. It is a non-profit, public-private institution whose mission is to generate economic growth and job creation in Nicaragua by attracting high-quality foreign direct investment. The agency provides complimentary support services to qualified investors seeking investment opportunities in our country.