April 7, 2011

Evonik to fund US$210 million a Russian grain processing plant

Evonik Industries will invest RUR6 billion (US$211.8 million, or EUR149.4 million) in the building of a grain processing plant in south Russia's Rostov Region.

The plant's first production unit, which is to process grain using biotechnologies, is planned to be launched in 2014. The unit will process 250,000 tonnes of grain a year to produce lysine, an indispensable amino acid for animal nutrition.

Evonik Industries is a global leader in the development and production of specialty chemicals and the only manufacturer of all the four essential amino acids for animal husbandry. Its interests in Russia and the CIS are represented by Evonik Chimia LLC, focused on energy and specialty chemicals markets.