Sojaprotein will invest in the construction of a factory of soybean protein insulates and concentrates, the Becej-based company announced on the website of the Belgrade Stock Exchange.
According to the announcement, implementation of the investment is divided into three phases.
The decision on implementation of the first phase of the investment that includes the construction of a factory of traditional soybean concentrates, with the annual production capacity of 70,000 tons, was made in the second quarter of the year. Processing equipment worth a total of 10 million euros has been procured and the negotiations on selection of the contractor are underway. Commencement of the construction of the concentrate production unit is scheduled for March 2011, while its completion is expected in September 2011.
As it is pointed out, 65% of capacities are expected to be employed in the first year of exploitation, after which the factory will be working at full steam. Total estimated value of the first phase of the investment is 22.5 million euros, about 4m of which have already been invested by the company.
Having in mind the fact that traditional soybean concentrates represent one of the products with the highest level of finalization, as well as having in mind their broad use in the field of production of fish food and animal food in general, milk substitutes and human food, Sojaprotein expects a significant growth of the income from soybean concentrate sales, which should be at the level of 52 million euros per year once the full capacity of the production unit is reached.
Construction of the factory of traditional soybean concentrates runs parallel to the construction of a new biomass boiler, which will be supplying energy to the new factory. As a fuel, this boiler will use soybean molasses, the by-product in the production of soybean concentrates. In that way, savings will be significant and important effects will be produced in the field of environment protection.
Upon the completion of the first phase of the investment, in early 2012, the company will start the implementation of the second phase, which includes the production of functional soybean concentrates.