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.