Joybay Agricultural Holding Limited, a Chinese company, is investing $120 million in construction of a plant for a deep processing of soybeans and the production of soy protein isolate in Russia.
The facility will be located in the Jewish autonomous region situated in the Russian Far East, the press office of the Ministry of Far East Development of the Russian Federation told Construction.RU on Tuesday.
The capacity of the enterprise will reach up to 30,000 tons of finished products per year. The investor intends to implement the project within “Amuro-Khingan” advanced development area. Soybeans for processing will be grown in the neighboring Amur region.
This project has already been discussed in detail at a meeting between the Minister of the Russian Federation for Far East development, Alexander Galushka, and the President of the Board of Directors of Joybay Agricultural Holding Limited, Ren Jian Chao, held in Beijing.
