Bidder for BRSM-Nafta gas stations mulling construction of bioethanol factory in Cherkasy region

13:40, 26.09.2016 1 min read

Dutch-based FreezOil. a bidder for the purchase of the BRSM-Nafta gas stations, is mulling the construction of a bioethanol factory in Cherkasy region, Cherkasy Regional State Administration said on its website.

"We consider Cherkasy region as a priority one... First of all, we are attracted by volumes of maize production there, because it is needed for the production of bioethanol," the administration's press service quoted Chairman of FreezOil's Board of Directors Roland Pieper as saying.

According FreezOil, its plans include the construction of three plants in Ukraine to produce bioethanol. The projects are estimated at $100-150 million each.

As reported, in November 2014, Dutch investment fund FreezOil Fund announced plans to acquire BRSM-Nafta.

Ukrainian media associated BRSM-Nafta with fugitive ex-Minister of Energy and Coal Industry of Ukraine Eduard Stavytsky. Meanwhile, the company itself denies any connection with Stavytsky.