Sodrugestvo Initiates Construction of New Kaliningrad Port ComplexBy Sodrugestvo Group, PRNE
Wednesday, March 9, 2011
New $430 Million Project to Significantly Expand Capabilities in Russia
LUXEMBOURG and NEW YORK, March 10, 2011 - Sodrugestvo Group (www.sodrugestvo.com) has started construction
on a new port complex in Kaliningrad, Russia.
The $430 million project, scheduled for completion in 2013, will include
a new deep-sea port terminal and soybean crushing plant. The Sodrugestvo
Group has already invested more than $600 million in port infrastructure and
processing facilities in Kaliningrad since 2001.
In a ceremony yesterday commemorating the initiation of the project,
several dignitaries including Viktor A. Zubkov, first vice-prime minister of
the Russian Federation; Iliya I. Khlebanov, plenipotentiary representative of
the president of the Russian Federation, northwest region; and Nikolay N.
Tsukanov, governor of the Kaliningrad region, joined Alexander V. Lutsenko,
Sodrugestvo's chairman of the board, in laying the ceremonial first stone.
"Sodrugestvo's continuing investment in our Kaliningrad facilities
underscores our commitment to the Russian market which is critically
important to our Group's health and future growth," said Alexander V.
Lutsenko, chairman, Sodrugestvo. "This nearly half billion dollar expenditure
will provide us with new production and storage facilities and new shipping
berths that will allow us to increase our presence in Northern, Central and
On behalf of the Russian Government, Mr. Zubkov said that "the increase
of soybean processing capacities is strategically important to guarantee the
food security of Russia and the success of the State-sponsored program to
develop meat production."
The new specialized port complex has been specially designed to support
the import and export of dry bulk agricultural commodities and vegetal oils.
It will contain three berths that can receive up to 50,000 metric tons (mt)
ships, a new rail terminal with the capacity to handle 5,000,000 mt annually
and additional storage capacity to house 160,000 mt of grains, 184,000 mt of
dry bulk commodities and 30,000 mt of vegetal oils.
The new plant will add 5,000 mt of daily processing capacity to the
existing 3,300 mt daily capacity at the existing Kaliningrad facility.
About Sodrugestvo Group
Sodrugestvo Group (www.sodrugestvo.com), founded in 1994, is a
rapidly growing agro-industrial company serving global markets. The company
is vertically integrated with three business units - specialized
infrastructure (including deep-water sea ports), logistics (including
railcars and storage facilities) and processing facilities (for the
production of proteins and oils from vegetal and animal commodities). In
2010, Sodrugestvo crushed more than 1.1 million tons of soybeans and
rapeseed, making it a leading player in Northern, Central and Eastern Europe.
The company is also expanding into commodities trading and direct origination
Headquartered in Luxembourg, the company has 32 facilities located in
nine countries including Russia, Denmark, Brazil, the United States and
several Eastern European nations. With consolidated sales of $857 million in
its fiscal year ending June 30, 2010, Sodrugestvo has enjoyed average annual
growth of 15 percent or more for the last 10 years. Sodrugestvo employs 1,300
and is privately held.
This release is available online in the Feintuch Communications media
room located at www.feintuchcommunications.com/sodru.
Jules Abraham, +1-212-808-4904, jules at feintuchpr.com, Savannah Tikotsky, +1-212-808-4903, savannah at feintuchpr.com, both of Feintuch Communications. NOTE TO EDITORS: Photos of dignitaries at yesterday's ceremony in Kaliningrad are available online at www.feintuchcommunications.com/sodru.
Tags: Luxembourg, Luxembourg And New York, March 10, New York, Russia, Sodrugestvo Group