11:49 16.11.2017

Grain Alliance invests UAH 75 mln in launch of elevator in Chernihiv region

2 min read

Grain Alliance (Stockholm, Sweden) with assets in Ukraine has invested UAH 75 million in the launch of a grain elevator in Nizhyn (Chernihiv region) in November 2017.

"We have launched the first phase of the grain elevator in Nizhyn in Chernihiv region with a storage capacity of 24,000 tonnes. Investment totals UAH 75 million. In general, its capacity would reach 72,000 tonnes. We plan to finish the project in coming two or three years," Grain Alliance CEO Yevhen Radoveniuk said on the sidelines of the Ukrainian Agribusiness Forum in Kyiv.

The company also increased storage capacities of the elevator in Pyriatyn (Poltava region), to 100,000 tonnes.

"In Pyriatyn we finished the third phase and installed one more dryer. Last year we added 36,000 tonnes at this elevator and this year – 12,000 more tonnes," Radoveniuk said.

He said that the total grain and oilseeds storage capacities of Grain Alliance are estimated at 250,000 tonnes.

"We do not plan to expand in the coming year. Additional investment will be injected in development of logistics near elevators," he said.

As reported, Grain Alliance plans until 2020 to double elevator capacity, to 400,000 tonnes. Over this period, it plans to expand its land bank to 100,000 hectares, reach grain sales of 1 million tonnes.

Grain Alliance cultivates 53,000 hectares of agricultural land in Ukraine: in Kyiv, Cherkasy, Poltava, and Chernihiv regions.