IFC supports Russian animal feed producer
International Finance Corporation (IFC), a member of the World Bank Group, is helping Russia’s Sodrugestvo Group, the largest manufacturer and distributor of soybean meal 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 soybean 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 and help the company implement best practices in corporate governance.
Infrastructure bottlenecks
The new port will alleviate infrastructure bottlenecks 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 increase the supply of quality animal nutrition products in Russia to support the country’s rapidly expanding livestock industry.
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