29 May 2023 09:27

Chinese-owned co to build soybean processing plant in Amur Region for 208 mln rubles

BLAGOVESCHENSK. May 29 (Interfax) - Voskhod LLC plans to invest 208 million rubles in the construction of a soybean processing plant with capacity of about 85,000 tonnes per year in the Amurskaya priority development area, the Far East and Arctic Development Corporation (FEDC) reported.

The FEDC and the Chinese-owned company signed an agreement to this effect on the sidelines of the AmurExpo-2023 forum in Blagoveschensk on Friday.

"It's no accident that we decided to build a soybean processing plant, for it is known that Amur Region in the Far East is a leader in growing this oil crop, which is considered one of the most profitable. Soybeans are a key export commodity for Far East farmers and we expect our project to play a role in increasing the share of exports of finished products," Voskhod CEO Nadezhda Yesipenko was quoted as saying in the press release.

The company plans to open the plant in time for the harvest of 2026, Yesipenko said. The plant will be located at the Rovnoye site, which is in the 'pre-bridge zone' of Blagoveschensk-Heihe.

Voskhod LLC was incorporated in April 2023, data from the Unified State Register of Legal Entities showed. The company's sole owner is Chinese citizen Wang Wei.