KYIV. April 27 (Interfax-Ukraine) – Investment of France’s AgroGeneration Group with assets in Ukraine will be sent to expand its land bank and processing of agricultural products in the medium term outlook.
“We can cultivate 120,000 ha. We are ready to cultivate more. The expansion of the land bank is a top priority,” AgroGeneration President John Shmorhun said at a press conference in Kyiv on Tuesday.
He said that the company is mulling investment in processing of agricultural products in the medium term outlook.
“We want to find a financial and strategic investor, as we know few in this sector, but we are studying the market. This is investment of over $100 million. We need a strategic investor for this,” he said.
He said if the land bank is expanded, the company will be able to more effectively trade with agricultural goods.
“If we have the land bank expanded, it would be more interesting for us trade on the CIF and FOB conditions and we could become a trade company,” he said.
Now AgroGeneration sells 40% of all its products under forward contracts.
AgroGeneration was founded in 2007. It specializes in growing grains and oilseeds. In Ukraine it currently cultivates about 120,000 hectares.
