April 4, 2008

Wilmar to create JV with Ukraine and Russia companies

Singapore-based Wilmar International announced its plan to create a joint venture with Nizhegorodsk Oil-and-Fat Plant (SC "NZHMK") of Russia and Delta Exports Pte Ltd of Ukraine, which would cost around US$136 million.

The companies plan to complete the venture by the end of April 2008.

The total investments of Wilmar International and Delta Exports to the new JV will amount to US$68 million.

The share of Wilmar International, Delta Exports and SC "NZHMK" in the joint venture will total 37.5 percent, 12.5 percent and 50 percent accordingly.