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The agricultural sectors of Turkey and eastern Europe are receiving a boost thanks to EBRD financing worth US$ 90 million for the agricultural commodity processor and trader Sodrugestvo Group.
Founded in 1994, Sodrugestvo Group owns the largest soybean processing complex in Europe and ranks among the top 20 soybean processors in the world. Headquartered in Luxembourg, the company has more than 30 subsidiaries located in some 20 countries, including in Belarus, Brazil, Paraguay, Poland, Russia, Serbia, Turkey and Ukraine.
The EBRD is providing three loans to Turkish and European subsidiaries of Sodrugestvo to enhance their operations. The group manufactures proteins and oils and distributes agricultural commodities globally.
In Turkey, a US$ 80 million EBRD loan will support foreign direct investment by financing the acquisition by Sodrugestvo of a multi-seed crushing plant in Izmir from Altinyag, a soybean processing company. Of the Bank’s loan, US$ 25 million is expected to be syndicated to foreign lenders.
Sodrugestvo plans to improve the efficiency of its Turkish subsidiary by bringing it up to company standards, increasing profitability and sustainability. The company is working on the transformation of its Turkish facilities into a regional hub and a leading soybean processor in the country and the Mediterranean region.
In addition, with US$ 10 million of EBRD funds, Sodrugestvo aims to increase the number of its agricultural suppliers in eastern Europe. |
