The International Finance Corporation (IFC) and Detroit Investments are planning to invest $20 million in juice production in Belarus, Director of the IFC Agricultural Business Department Oskar Chemerinski told a news conference.
The IFC will supervise the project to ensure its compliance with the international food safety and environment standards, the source added.
The IFC is going to issue a loan of $8 million for Bobruisk juice plant. Initially the plant will produce 1 million hectoliters of juice a year, which exceeds the domestic demand for juice by 100%. Part of the output will be exported. According to Sergey Levin (Detroit Investments), the plant is expected to be commissioned in late 2007.