KYIV. June 27 (Interfax-Ukraine) – Investment by UkrAgroCom (Kirovohrad region) in modernization of the Oleksandria sugar refinery in 2017 would total $1 million.
“Since the acquisition of the refinery 10 years ago we have invested $5 million in its modernization. By the end of this year $1 million will be invested,” Production Director Oleh Pokotylo told Interfax-Ukraine.
He said that the funds will be sent to improve the quality of sugar and energy efficiency.
“We are installing solid fuel boilers burning plant waste instead of expensive gas, which price is unstable. We will use own waste from sugar beets processing,” he said.
The company hopes to save $1.5 million every year on sugar production.
UkrAgroCom is mulling to invest $5 million in the modernization of the refinery.
Commercial Director Pavlo Fesiuk said that in 2016/17 agricultural year (August-September) the Oleksandria sugar refinery produced 30,000 tonnes of sugar. The refinery intends to retain the figure for this season.
In 2016, UkrAgroCom exported 8,000 tonnes of sugar, which is 20 times more than in the previous two or three years. Sugar was mainly supplied to Asia, North Africa and the European Union.
The company sowed sugar beets on 6,400 ha (the same as last year).
Fesiuk said that the company does not plan to expand its land bank and own elevators, but the company is working on boosting cow numbers.
UkrAgroCom is part of the UkrAgroCom and Hermes-Trading group of companies.
