Cokey Systems Co. Ltd, a Japanese company, is completing the construction of a plant for manufacturing glycyrrhizic acid from the licorice root in the Astrakhan region, announced the regional Minister of International and Foreign Economic Relations Denis Afanasyev.
“Currently, the investor is completing the construction works and purchasing the equipment. The commissioning of the plant is scheduled for the second half of 2017. Its production capacity will be 230 tons a year,” said Mr. Afanasyev.
The Minister added that, in 2014, Cokey Systems Co., Ltd., a Japanese company, together with Solodka-A LLC, an Astrakhan-based operator, submitted to the government of the Astrakhan region an official proposal for the construction of a licorice processing plant in the region. The authorities of the region approved the proposal and provided support to the project.
Licorice is the raw material for manufacturing more than 1200 types of medicinal products. The products manufactured by the plant can find their consumers not only among the pharmaceutical companies, but also in the food industry and among the manufacturers of soft drinks. According to the Ministry of International and Foreign Economic Relations of the Astrakhan region, the approximate volume of investments in the project is about 65 million rubles.