Russia's largest oil and fats plant will invest 23.4 billion rubles in a new complex
2021-07-20 09:30

Russia's largest oil and fats plant will invest 23.4 billion rubles in a new complex

The management of Nizhny Novgorod Oil and Fat Combine (NFMC) intends to invest 23.4 billion rubles in a new complex for processing and production of vegetable oils in the Orenburg Region, the press service of the company said.

"NMJK Group plans to build an integrated complex for deep processing of oilseeds, bottling of vegetable oils, mayonnaise and sauces production in Buzuluk city, Orenburg region. The project involves the construction of production facilities to process sunflower, rapeseed, soybeans, flax and other oilseeds. The complex will process up to 1 million tons of raw materials, produce up to 450,000 tons of vegetable oil and 390,000 tons of high-protein meal (feed stuff for animals and poultry) annually", the report says.

The investment project also implies launching of production of packed vegetable oil in consumer packaging with annual output of 125 thousand tons, mayonnaise and sauces - 80 thousand tons. According to the company, the peculiarity of the project is production of fat-and-oil products with high added value. The grain elevator with the capacity of one-time storage of 120 thousand tons of sunflower will be constructed to provide the complex with raw materials. The total investment in the construction of the new asset will amount to 23.4 billion rubles. The construction of the complex is planned without attracting budgetary funds.

The commissioning of the first stage is scheduled for the first quarter of 2023, with production scheduled to begin in 2025. The project will create 521 new jobs, and annual tax payments to the budget will be about 2 billion rubles.

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Author: Karina Kamalova