Creative Group to Launch Soya Refinery, Oil Extraction Plant in 2008

Creative Group (CREA: N/R) plans to put soya refinery and oil extraction plants in Kirovohrad into operation in May-June and November-December 2008 respectively, the company announced yesterday. The soya refinery (with annual capacities of 100 ths mt) is jointly being built with Russian Protein Production (the latter will own a 49% stake). The multicereal oil extraction plant is expected to increase Creative’s annual oil production capacities from 245 to 345 ths mt. Creative plans to invest USD 25 mln on the soya refinery and USD 35 mln on the oil extraction plant.