Evonik forms joint venture in Russia produce feed amino acid L-lysine

Evonik forms joint venture in Russia to produce feed amino acid L-lysine

2:40 AM, 30th September 2011
Evonik forms joint venture in Russia to produce feed amino acid L-lysine
Patrik Wohlhauser, Executive Board Member, Evonik.

ESSEN, GERMANY: Evonik Industries and Russian company RusBiotech International have established the joint venture Russkie Biotechnologii for manufacturing L-lysine in Russia by means of a biotechnological process. The purpose of this joint venture, in which Evonik holds a minority shareholding with an option to increase its share significantly, is to produce the feed amino acid L-lysine in Russia.

The companies are planning to build a plant for Biolys production using wheat grown in Rostov region. The total investment of the joint venture will be around €150 million. The joint venture has already begun with the engineering. The plant is slated to go on line in 2014 and convert approximately 300,000 metric tonne of wheat into Biolys each year.

Evonik and RusBiotech International are also in talks with state-owned Rusnano on Rusnano’s possible acquisition of a stake in the joint venture.

“Russia is an important market for us, a country in which demand for biotechnology-manufactured amino acids is growing. Getting involved locally with a production facility will allow us to strengthen and expand our market position for L-lysine,” said Patrik Wohlhauser, Executive Board Member, Evonik.

“Evonik is one of the leading producers worldwide in the market of amino acids for animal feed. The new plant will help to meet the growing demand for meat, milk and eggs and will allow us to contribute to a sustainable protein supply for feeding the world’s population,” stressed Wohlhauser.

© WOC News



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