February 11, 2008
Russia's largest feed producer receives World Bank loan to expand
International Finance Corporation (IFC), a member of the World Bank Group, is helping Russia's Sodrugestvo Group, the largest manufacturer and distributor of soymeal and other animal nutrition products in the CIS countries, expand its operations and improve its port facilities.
IFC's financing of US$50 million in equity and US$50 million in long-term debt will help Sodrugestvo complete a specialised agricultural commodities port as well as 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 also advise Sodrugestvo on commercial, technical, environmental, and food safety issues.
The new port will alleviate infrastructure bottlenecks at commercial ports that handle imported agricultural products and increase access to quality port services. With the new processing plants, Sodrugestvo will supply quality animal nutrition products to support the country's rapidly expanding livestock industry.