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VTB finances construction of soy isolate plant in Russia’s Far East

 
10 September 2015

VTB finances construction of soy isolate plant in Russia’s Far East.

VTB has provided funding to Amuragrotsentr, a leading cereal and legume processor in Russia’s Far East, to build a plant to produce soy isolate in the Amur Region. Funds totaling RUB 800 million for the first phase of the project were provided under a Government programme to support investment projects. The total cost of the first phase amounts to RUB 1.1 bn.
The plant is a major investment project in Belogorsk.
The new plant will be Russia’s first producing soy isolate, which is used in the food, pastry and pharmaceutical industries. The project will create 275 new jobs in the region.
Construction of the plant will begin this year. The first phase is scheduled for completion in the fourth quarter of 2016.
Deputy President and Chairman of VTB Bank Management Board Mikhail Oseevskiy said: «Regional Russian manufacturers producing high-quality products similar to those made by their foreign counterparts are growing quickly. The area has tremendous social significance and potential in terms of lending, so we will continue to seek opportunities to work with competitive enterprises.»

For reference:

Amuragrotsentr is one of the Russian Far East’s largest enterprises processing cereals and legumes, which has production capacities to make: hydrated soybean oil; refined deodorised soybean oil; edible soybean meal; toasted feed soybean meal; extruded soybean forage; complete feed and animal feed concentrates; protein-vitamin-mineral concentrates and premixes.
All production facilities located on the premises are equipped with modern technology, transportation and aspiration equipment. The equipment used in the company’s shops is unmatched in the Russian Far East.
Amuragrotsentr comprises a network of grain elevators in the main procurement areas of the Amur Region (the villages of Poyarkovo and Seryshevo, Belogorsk, Blagoveshchensk and the Zavitinsk Plant), and the city of Birobidzhan in the Jewish Autonomous Area. Amuragrotsentr operates its own retail network in the Amur Region with branches in Moscow, Khabarovsk and Vladivostok.


Tags:
lending

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