Chinese Angel Yeast to invest 10 billion rubles in grain processing in Russia

Chinese Angel Yeast to invest 10 billion rubles in grain processing in Russia

By Alexander Miller, consultant in energy markets. Eurasia Business news, January 20, 2023

Angel East Rus LLC (owned by the Chinese Angel Yeast) plans to build a plant for deep processing of grain in the Dankovsky district of the Lipetsk region, in Western Russia, reported the press service of the regional government,  with reference to the general director of the company Qin Jianhua. 

The Chinese group intends to invest more than 10 billion rubles in this project. It is planned to create 400 new jobs. Other parameters of the project were not yet specified so far.

The project will be discussed. The next meeting was scheduled for February,” the report said.

The plant “Angel East Rus” for the production of dry yeast is located in the city of Dankov, Lipetsk region. The company has seven production lines. Production is almost fully automated. The first stage of the enterprise opened in February 2019, the volume of investments amounted to about 7 billion rubles. More than 50 tons of dry yeast and more than 20 tons of pressed yeast are produced here per day. In 2023, the company plans to introduce new production lines, which will increase the annual production of dry yeast by 2 thousand tons.

Investments will amount to 2.6 billion rubles.

According to the Russian Unified State Register of Legal Entities, Angel East Rus LLC was registered in August 2015 in the Russian city of Dankov. 99% of the share capital is owned by Angel Yeast Co.

Ltd. The registered CEO is Qin Jianhua.

The company’s revenue at the end of 2021 increased by 13.5%, to 4.2 billion rubles, net loss decreased to 396.4 million rubles against 1.1 billion rubles in 2020.

Read also : How to invest in gold

As stated on the website Angel Yeast, this Chinese company has been engaged in the production of yeast and its derivatives for more than 30 years. Eight production bases of Angel Yeast are located in China, two – abroad (in Egypt and Russia). The company produces bakery yeast and ingredients, yeast extracts, fodder yeast, nutrient media for microorganisms, yeast for the preparation of alcoholic beverages, biologically active additives and organic fertilizers.

Angel Yeast is a listed company specializing in yeast and biotech. Product business covers Yeast and Baking, Yeast Extract-Savoury, Nutrition & Health and Biotechnology fields. It is one of the world’s leading companies in the yeast industry. Angel Yeast was founded in 1986 and is headquartered in Yichang, China.

Thank you for being among our readers.

Our community already has nearly 95,000 members.

Sign up to get our exclusive articles.

To receive premium content, subscribe, it’s only €8.99/month. You will see the subscription form on posts with restricted access.

Support us by sharing our publications!

Follow us on Facebook, Twitter and Anchor.

© Copyright 2023 – Eurasia Business News.

Source link

Leave a Reply

Your email address will not be published.