January 11, 2007

Swedish Swedfund to invest EUR 15 million in dairy in Macedonia

The Swedish state-owned venture capital fund Swedfund International AB plans to invest EUR 15 million (US$19.5 million ), becoming the co-owner of a dairy plant to be set up in Macedonia.

The co-owners would include among others Macedonian beverage maker and distributor M&A Beverages. The production is expected to start by the summer of 2007.

The dairy would then replace imports with locally produced milk products, Swedmilk Makedonija CEO, Roger Oscarsson, said.

Besides offering long-term contracts to dairy farmers, the company also plans to fund the firms to equip them with milk cooling tanks.

The dairy plant will have the capacity to process 250 tonnes of milk every day. Swedish packaging group Tetra Pak AB will supply packaging machines and processing equipment.