Kernel, one of the largest Ukrainian agricultural groups, may obtain up to 250 million dollars of the long-term funding from the European Investment Bank in 2019 FY, StockWorld reports quoting EIB.
This project is being assessed, EIB reports. It consists of two grain storage tanks, the grain processing and storage terminal in the Black Sea port, five thermal power stations and the sunflower processing plant.
According to EIB, the total cost of the project will be up to 519 mln dollars.
“EIB’s funds are expected to allow companies to improve trade and export logistics, building new grain storage facilities, also available for third parties, and transfer facilities. Due to the construction of a new plant on sunflower oil production… the company should increase effectiveness of using resources and increasing its share on Ukrainian and EU market”, according to EIB’s message.
It should be reminded that Kernel ended 2018 FY with net profit, amounting to USD 52.1 million, which is 3.4 times less than in 2017 FY.
