EFKO Group invests 3.5 bln rubles in plant for advanced processing of oilseeds

MOSCOW. March 6 (Interfax) - The EFKO group of companies, a leading operator on the oil and fat market in Russia, has invested 3.5 billion rubles in a plant for the advanced processing of oilseeds in the Belgorod Region, and President Vladimir Putin participated in the plant's opening via video link.

Food of the Future LLC, part of the EFKO Group, is the project investor. Capacity of the enterprise envisages processing 5,000 tonnes of soybeans per year, with the production lines for concentrates and isolates particularly capable of processing 2,000 tonnes per year, and plant fiber processing of 100,000 tonnes per year.

The project's goal is to provide import substitution of high-quality food ingredients to produce functional sports nutrition. The EFKO Group along with Russian scientists have developed the technology, with over 50% of the equipment manufactured domestically.

Russian Agricultural Bank (Rosselkhozbank) has provided 3 billion rubles in preferential investment loans of the total investment, and 500 million rubles are from investor funds.