Sintal Agriculture mulling construction of grain elevator for transshipment to river transport in Kherson region
Kyiv, October 4 (Interfax-Ukraine) – Sintal Agriculture agribusiness, a large agricultural producer in Ukraine, is mulling the construction of a grain elevator for the transshipment of grain to river transport in Kherson region, according to Sintal Agriculture Director General Vadym Mohyla.
"We're still interested in the acquisition of a river-based elevator – we're still in talks on this… And if we fail, we will build it, as it is logical, and we will resolve the problem of direct exports," he said during a press conference at Interfax-Ukraine, noting that the facility would be located in Kherson region.
Mohyla stressed that "the need to buy two grain storage facilities is no longer relevant, as we've reconsidered our directions of expansion."
As was reported, Sintal Agriculture Public Limited previously announced plans to buy two storage facilities to transship grain to river transport. Their total storage capacity was to be 60,000 tonnes.
As of the end of 2010, the company's overall capacities to store grain were 215,000 tonnes.
Sintal Agriculture was set up in 2008. Its parent company is Kharkiv-based Sintal D LLC research and production firm, which has been operating in Ukraine since 1992.
Sintal Agriculture leases over 100,000 hectares of farm land in Kharkiv and Kherson regions. It cultivates wheat, maize, sunflower seeds, barley, sugar beet, buckwheat, soybeans, peas, and other crops. It owns two sugar refineries, a pig farm, and 16 agribusinesses.
Sintal Agriculture on October 20, 2009, effected a private additional placement of 17.2% of shares worth $13 million. The price of the placement was $2.28 per depositary receipt, which corresponds to a company market capitalization of $75 million.
Sintal Agriculture in 2009 carried out the private placement of 15% of its shares worth $34.5 million. Its shares are listed on the Frankfurt Stock Exchange.
According to the company, 53% of its shares belong to businessman Mykola Tolmachev, 8% to Vadym Mohyla, 2% to the top management, and 36% to institutional investors.