Public joint-stock company State Food-Grain Corporation plans to send UAH 138 million to modernization of enterprises in 2017, the corporation's press service has reported.

"This year the capital investment plan includes the implementation of new projects on reconstruction and technical re-equipment and the completion of modernization projects started last year," Deputy Board Chairman Andriy Zadyraka said.

The corporation plans to upgrade grain drying equipment, modernize or partially buy truck and wagon scales, truck unloading equipment, grain processing equipment and upgrade technological equipment at processing branches. Some funds will be sent to automation of industrial processes.

"We are trying to quickly react to the needs of our branches in technical re-equipment and increase of competitiveness. For comparison: if in 2015 total capital investment was UAH 18 million, in 2016 over UAH 116 million was sent to modernization of enterprises," Zadyraka said.

The government in August 2010 decided to create the State Food and Grain Corporation of Ukraine. The corporation has a chain of branches, comprised of grain storage facilities, flourmills, fodder factories and a cereals factory. The 53 subdivisions of the corporation can store a total of 3.75 million tonnes of grain, which includes the grain handling capacities of Odesa and Mykolaiv ports of some 2.75 million tonnes of grain cargo per year.