Russian dairy and fruit juice giant Wimm-Bill-Dann has revealed plans to invest US$90m in the expansion of its core business during the course of this year.
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David Yakobashvili, the chairman of the company’s board, explained that this means investment in the production of juices and dairy products.
Yakobashvili is cited in local newspaper Finansovye Izvestia as indicating that drinking water production is among the company’s “juice” projects. Wimm-Bill-Dann is near to completing a drinking water plant in the Altai territory of Russia, a project that has received funding of US$8m to date.
The requisite funds are being raised through the issue of American Depository Receipts on the New York Stock Exchange.
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By GlobalData
