Business news from Ukraine

AGRICOM GROUP TO DEVELOP AGRICULTURAL CLUSTER IN WESTERN UKRAINE

14 May , 2016  

KYIV. May 14 (Interfax-Ukraine) – Agricom Group seeks to start agricultural production in western Ukraine in autumn, Agricom Group CEO Petro Melnyk said at a press conference in Kyiv on Thursday.

“We have invested some $6 million in the past two years. Now we start developing a new cluster in western Ukraine,” he said.

He said that the cluster development strategy in the first year implies purchase of 5,000-10,000 ha of land to create the production base.

“I think that in the autumn we would sow winter crops there,” Melnyk said.

He also said that Agricom Group is building an oat-flake plant in Chernihiv region.

“We are building oat-flake facilities near Chernihiv, absolutely new comparable to other plants in Europe,” he said.

Melnyk said that shareholders finance the plant and a five-year loan from the Swiss export agency was taken to fund the project.

Agricom Group produces food from grain at own production base. It unites agricultural, processing and trade companies.