According to Russia’s Prime Tass, French giant Danone‘s Russian subsidiary doubled its 2001 dairy output in Russia to 50,000 tones.
James Dwier, the company’s director for Russia, said they had plans to further increase output by 60% during 2002.
Danone owns two factories in Russia, one in the city of Chekhov in the Moscow region and another in the city of Tolyatti in the Samara region.
During 2001, the European Bank for Reconstruction (ERB) provided a US$7m loan to the Russian financial institution Small Business Credit Bank (KMB).
The loan allowed KMB to provide sub-loans and/or sub-leases to Russian dairy farms selected by Danone to finance acquisition of dairy equipment. The ERB financed project will help Danone secure a stable supply of quality milk and assist the dairy farms in improving the productivity and quality of their operations.