11:09 20.03.2023

Prometey plans to increase land bank to 50,000 ha during year

2 min read

The Prometey Group of Companies plans to increase its land bank from 20,000 hectares to 50,000 hectares during the year, and in the future to increase it to 100,000 hectares, the owner and head of the Supervisory Board of the Group of Companies said at the Exporters Summit organized by Forbes Ukraine in Kyiv last week.

According to him, we are talking about leased space, since the purchase of such volumes by the company is not yet possible.

Goroyan predicts that under the current difficult conditions in the Ukrainian market, small and medium-sized farmers will go bankrupt, which will ensure the supply of land.

As for the company's interest in building up the land bank, he explained it with a desire to make the most of the infrastructure in which the company had previously made significant investments.

According to the owner of Prometey, this year "at best we will harvest 40 million tonnes" of crops, which is three times less than the record pre-war figures. He noted that the entire logistics business - wagons, ports, cars - would suffer from such a fall.

In this regard, Goroyan urged the government to promote business as much as possible, in particular, to solve the problem of VAT refunds.

The Prometey Group of Companies provides services for the storage, processing and logistics of crops. Before Russian aggression, the holding owned 34 elevators in Mykolaiv, Kirovohrad, Kyiv, Khmelnytsky, Zaporizhia, Sumy, Odesa, Kherson and Dnipropetrovsk regions.

Over 2021, the group of companies planned to receive $45 million in EBITDA, while in 2020 this figure reached $32.6 million, and in 2019 – $30.5 million.