"Sojaprotein" to have factory of insulates and concentrate built - investment wort 30m EUR

Company "Sojaprotein", which operates as a part of "Victoria Group", has just started realization of the project for construction of factory of soybean insulates and concentrate, which are the products of the highest level of soybean kernel processing.

- Contract on planning has been signed with company "Energoprojekt", whereas the contract on supply of consulting services has been signed with the US company "IPS", which has 100-year experience in that field. There is only one factory of that kind in Europe – in Belgium, and there are another two in the USA. Insulates are also produced in China – said Branislava Pavlović, general manager of company "Sojaprotein".

According to her words, the price of these products, which will be included in the production program of "Sojaprotein", should be about 2,000 EUR per ton. According to the plan, production capacity should amount to 15,000 tons on annual basis, 10% of which would be intended for domestic market and the rest would be exported.

In this way, soybean would enter the market whose value is estimated to about 3 billion EUR in the world. Production of soybean insulates would contribute to growth of total income of "Sojaprotein" by 30 - 40%, with the growth of profit in amount of 10m EUR. Completion of construction of the factory is expected at the end of 2009, whereas the first results of the soybean processing in this sophisticated and high-profit way should be seen at the end of 2010.

- Total value of the investments in the factory will amount to about 30m EUR. Thanks to the new concept we chose in "Sojaprotein", this investment will be financed from the new issue of stocks on the stock exchange - said Branislava Pavlović.