Business news from Ukraine

Business news from Ukraine

IMC to invest $12 mln in grain cars

20 August , 2024  

In 2024, IMC Agro Holding will invest $12 million in grain carriers, Chairman of the Board of Directors Alex Lissitsa said in an interview with German radio deutschlandfunk.de.

“Things are much better now, especially because we have finally returned (to the de-occupied territories where the agricultural holding operates – IF-U). We are able to export. It is a huge advantage for us to export across the western border by rail. It used to be very difficult and expensive for us. Now everything is going well,” he said.

According to Lissitsa, the normalization of IMC’s operations after the de-occupation of the territories and the resumption of exports allowed the agricultural holding to resume investments in 2024.

“Now we have $12 million in investments in grain carriers (Pfeidewagen). We also have a number of other investments planned. Therefore, things are much better now than two years ago,” said the Chairman of the Board of Directors of IMC.

Commenting on the publication of his book “My Wild Nation. Ukraine on the Road to Freedom”, Mr. Lissitsa explained that the agricultural holding is currently working with the government to identify priorities for the economic recovery of Ukraine in the next few years.

He noted that only half of the decisions made under the Ukraine Facility program have been implemented. The issue is the need to take advantage of the opportunities in the agricultural sector during Ukraine’s integration into the European Union.

“There are many things that are a bit painful for us. For example, the use of all kinds of pesticides, the use of drones, and so on, where Ukrainian agriculture has already had a significant advantage. I think that for many people in Ukraine, this (integration – IF-U) will be painful, but nothing more. It is feasible. After all, we want it,” Lissitsa assured.

According to him, Ukraine’s “savagery” is not chaos or uncontrollability.

It is the unwavering will of the Ukrainian people to freedom and self-determination on the path to EU membership.

Speaking about the upcoming Independence Day, which will be celebrated for the third time during Russia’s full-scale invasion of Ukraine, Lissitsa clarified that there will be no celebrations in the country. However, Ukrainian President Volodymyr Zelenskyy has already initiated a meeting with farmers next week to discuss the current situation in the agricultural sector.