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Danone Invests $90M in Siberia

French dairy giant Danone on Thursday announced a $90 million investment in upgrading its dairy plant in Siberia.

Danone global president and chairman Franck Riboud and the company's general manager in Russia, Ives Legros, announced the move in a meeting with Tyumen regional governor Vladimir Yakushev.

The 2.8 billion ruble reconstruction of the Yalutorovsky facility in the oil-and-gas-rich region will last from 2013-2015 and result in producing "up-to-date and more profitable products" such as Activia, Danissimo and Prostokvashino, Danone said in a statement.

The investment will increase production capacity 40 percent and create 100 more jobs. Danone said it secured the support of the regional government in its efforts to double the amount of local milk supply to 1,000 metric tons a day by training farmers.

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