December 30 (SeeNews) - Croatian privately-owned meat processing company Ravlic said on Friday it is investing almost 70 million kuna ($9.9 million/9.3 million euro) in the construction of its first own beef farm and expansion of processing capacity.
The expanded processing unit is expected to increase output fourfold to some 20 tonnes of meat per day, Ravlic said in a press release.
The project, scheduled for completion in the first half of 2023, will create more than 50 jobs near Osijek, in eastern Croatia.
The investment in the enlargement of the processing unit to 3,000 square metres is worth 7 million euro, with half of it representing a grant from the European Union's funds for rural development.
Ravlic opened its beef farm earlier this month. The facility is expected to reach full capacity of up to 1,000 cattle heads in January.
(1 euro = 7.536 kuna)