Industrial Development Fund may allocate 500 million rubles to Solopharm

| By | IDF, Investments, Solopharm

On April 13, the Expert Council of the Industrial Development Fund (IDF), approved a loan under the Development Projects program for Grotex LLC, a St. Petersburg-based company, reported Vedomosti newspaper citing a representative of IDF.

Grotex LLC (Solopharm) is the pharmaceutical plant of Oleg Zherebtsov, the founder of Lenta retail chain; it operates since 2014 and produces liquid dosage forms.

According to IDF, Grotex plans to invest 1.32 billion rubles in the phase 3 of the plant, including 500 million rubles that may be provided by the Fund. IDF reported that the total investments in the plant amount to 8 billion rubles.