RDIF invests in the construction of Russia's first plant for producing infant milk formulas
Sochi, February 14, 2019 – The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, and the British investment holding, the United Green Group, have agreed to jointly implement a project to build a production facility for infant formula milk. The agreement was announced today on the sidelines of the Russian Investment Forum.
The total investment in the project will be up to 10 billion rubles. The project provides for the construction of a plant with a production capacity of 15,000 tons of formula per year. The plant will be located in the European part of Russia and will be the country's first production facility producing breast milk substitutes.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), noted:
“Powdered milk formula is a very important product; one that children's health directly depends on. Currently, the Russian market imports 82% of infant formula milk. Our joint project with the United Green Group will provide the Russian population with a domestic produced substitute for breast milk of high quality and reduce dependency on imports by localizing production in Russia. ”
Albrecht Frischenschlager, the Chief Investment Officer of the United Green Group, said:
“The launch of the IMF plant jointly with RDIF demonstrates Russia’s commitment to investing in the long term infrastructure to develop its own market in premium infant nutrition products and, as a result, it becoming a global leader in the sector. The IMF plant will guarantee a stable supply of high quality IMF nutrition available to the local population, create employment places, bring the state-of-the-art technology and enable the creation of a regional distribution hub for IMF in Russia and neighbouring countries.”
Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Currently, RDIF has experience of the successful joint implementation of more than 70 projects with foreign partners totaling more than 1.4 trillion rubles and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 700,000 people, and generate revenues which equate to more than 5% of Russia’s GDP. RDIF established joint strategic partnerships with leading international co-investors from more than 15 countries that total more than 40 billion dollars. Further information can be found at rdif.ru>
UNITED GREEN is a privately-owned strategic investment holding with a highly successful track record of industrial, commercial and investment activity in Europe, Asia, Africa and the Middle East.
We place an emphasis on developing innovative and specialist industrial projects, led by our team of dedicated investment and project development professionals. We partner with industry experts who share our strategic ideas and vision.
Over the last 60 years, we have developed a diversified portfolio of large-scale, specialist industrial and commercial businesses and investments across multiple sectors. These include energy, FMCG, nutrition, automotive, trading, specialty finance, distribution and real estate.
For additional information contact:
Russian Direct Investment Fund
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
Andrew Leach / Maria Shiryaevskaya
Tel: +44 (0) 20 7796 4133