February 6, 2008
IFC supports largest soymeal and feed manufacturer in Russia
IFC, a member of the World Bank Group, announced it is helping Russia's Sodrugestvo Group, the largest manufacturer and distributor of soymeal and other animal nutrition products.
IFC financed US$50 million in equity and US$50 million in long-term debt to aid Sodrugestvo complete a specialized agricultural commodities port and expand its production of animal feed by building and operating soy and rapeseed processing plants in the Kaliningrad region.
As a partner and shareholder, IFC will advise Sodrugestvo on commercial, technical, environmental, and food safety issues and help the company implement best practices in corporate governance.
The new port will upgrade infrastructure at commercial ports that handle imported agricultural products and increase access to quality port services for other Russian agricultural commodity traders.
With the new processing plants, Sodrugestvo will up the supply of quality animal nutrition products in Russia to support the country's rapidly expanding livestock industry.