BAKU, Azerbaijan, April 4. The European
Investment Bank (EIB) has approved a 50 million euro loan to
Lantmännen to co-finance the construction of a new pea protein
isolate factory in Lidköping, Sweden, Trend reports.
The loan will cover approximately half of the project’s
investment cost.
This factory, the first of its kind in Sweden, will have an
annual processing capacity of over 40,000 tons of peas grown by
Lantmännen cooperative members. Scheduled for completion in the
first half of 2027, it is expected to create around 30 local
jobs.
The plant will produce high-quality plant proteins, used in
products such as protein bars, drinks, plant-based milks, and meat
substitutes. This project supports EU objectives for increasing
plant protein self-sufficiency and promoting sustainable
agriculture while reducing climate impact.
EIB Vice-President Thomas Östros emphasized that the project
would enhance food security and contribute to climate action in
Sweden and the EU. By utilizing locally grown legumes, such as peas
and beans, the project will help reduce the reliance on imported
soybeans, supporting sustainability goals.
Lantmännen CFO Michael Sigsfors highlighted the project’s
long-term value, noting that it would promote exports, improve food
security, and benefit farmers’ profitability.
