Springdale, Ark.-based meat processor Tyson Foods Inc. said Dec. 9 that its beef and pork subsidiary, Tyson Fresh Meats Inc., signed a deal with the Republic of Kazakhstan and private equity firm Kusto Group Inc. to work on the establishment of a beef processing plant in the country.

Kusto Group is based in Singapore but was founded in Kazakhstan, where it has an existing beef production operation.

Tyson Foods said the move is part of its strategy to expand its global business, and is also part of the Kazakh government's wider initiative to expand and modernize the country's agriculture sector.

The investment is expected to provide Kazakhstan with over $1 billion in annual agricultural benefits, according to the release.