The Arbitration Court of the Rostov region introduced an external administration for 18 months at Don Biotechnologies LLC (Donbiotech). The report on the results of the procedure is scheduled for April 15, 2021. Donbiotech LLC is implementing a project for the construction of an industrial complex for the deep processing of grain in Volgodonsk, Rostov region. In March 2019, the Arbitration Court of the Rostov region introduced a monitoring procedure for Donbiotech at the request of Zavkom-Engineering LLC (Tambov), including its claims in the amount of RUR 25 million ($ 0.39 million) in the third turn of the register of creditors' claims. According to the SPARK-Interfax system, as of January 28, 2019, Rusferm Limited LLC (Cyprus) owned 95% of the authorized capital of Donbiotech LLC. The share of RSHB-Finance LLC is 5%.
Earlier, regional authorities said that the plant was built at 83%, RUR 12.3 billion ($ 192.33 million) had already been invested out of the declared RUR 15.2 billion ($ 237.67 million). It was noted that the construction of the complex continues, despite the arrest in March 2018 in Moscow of Donbiotech CEO Vadim Varshavsky on charges of embezzlement of RUR 2.5 billion ($ 39.09 million) from Petrocommez Bank.
The Donbiotech plant plans to process 250,000 tons of grain per year and produce 85,000 tons of lysine, which is used as a feed additive. It is also planned to produce 25,000 tons of gluten and up to 100,000 tons of feed annually. The launch of the enterprise will make it possible to localize production in the areas of consumption of manufactured products and adapt it to the requirements of the local market. Estimated revenue is more than RUR 5 billion ($ 78.18 million) per year.
As previously reported by the Minister of Agriculture and Food of the Rostov region Konstantin Rachalovsky, the completion of the Donbiotech LLC project will require about RUR 1.5 billion ($ 23.45 million). In August this year, First Deputy Governor of the Rostov region Viktor Goncharov said that the plant could be commissioned in mid-2021.
Source: piginfo.ru.
