Sodruzhestvo Group secures agreement to export soybean products to China - Amur region government
BLAGOVESCHENSK. April 3 (Interfax) - Far East Agroterminal LLC, a division of Russia's Sodruzhestvo Group, has reached an agreement with the Transport Investment International Logistics and Trading Corporation of Heilongjiang province on supplies of soybean products from its new plant in Amur Region, the regional government reported.
The companies signed an agreement on strategic cooperation under which the oil extraction plant in Belogorsk, the construction of which is near completion, will export soybean oil and soybean and rapeseed meal to China, the press release said.
"The signed document on strategic cooperation with the Heilongjiang corporation means for us a transition from the investment phase of the project to build the oil extraction plant to operating activities. We plan to launch the facility in 2026. After it is put into operation, the requirements for raw material - soybeans - will amount to a million tonnes per year," Sodruzhestvo Management Company LLC director for investment and development Pavel Zarkov said in the press release.
Under the agreement, the companies will develop the logistics for shipping the finished products to China, with the organization of the required hubs in the country.
The Transport Investment International Logistics and Trading Corporation of Heilongjiang, founded in February 2023, serves as a platform for cross-border logistics and trade in Northeast Asia. The company operates in four key areas: comprehensive foreign trade services, international trade, logistics and management of integrated zones.
The Amur Region processes 450,000 tonnes of soybeans annually. Following the launch of Sodruzhestvo Group's plant with annual capacity of 1 million tonnes later this year, at least 80% of the region's soybeans will be processed locally. The plant will also process rapeseed and flaxseed.
Sodruzhestvo Group began building the soybean processing plant with capacity for 1,500 tonnes per day in a priority development area in Amur Region in 2023.
