Soybean Oil Project
The soybean oil project is a joint venture, and is still in the process of construction. It involves the finance and construction of a combined soybean oil refinery and bean crushing plant near Nampo (one of the DPRK's main ports).
This was the first joint venture in the DPRK, and the foreign investor was allowed to hold a 70% stake in the company.
The financing of the plant cost of $15M was secured on the use of Italian equipment, from a financial institution in the EU.
The plant will extract crude oil from imported soybeans and refine it into normal cooking oil, for sale in the local market for foreign currency.
A main by-product of this process is animal feed, which is in desperately short supply and must now also be imported.
The project is being given top priority from the highest levels of government, and is regarded as the flagship for future international joint venture co-operation.
Phoenix Commercial Ventures have been involved at every step of the project.
Please feel free to contact us, via our contact form.
|
