Continental Farmers Group has acquired a linear-type elevator complex in Lviv region to handle grains and oilseeds with a one-time storage capacity of 120 thousand tons, the company’s press service reported on Facebook on Tuesday.
According to the report, the acquired capacities consist of 77 thousand tons for storage in metal silos, and 43 thousand tons in prefabricated reinforced concrete silos and warehouses. This brings the total storage capacity of Continental to 634 thousand tons.
“Continental continues to implement its development strategy and invest in additional storage capacity, despite the difficult economic situation in the country (…) With the acquisition of this facility, we also have the opportunity to significantly optimize our logistics: the new elevator is located near a major railway junction and has the capacity to ship up to 45 rail cars of grain per day,” said Georg von Nolken, CEO of Continental Farmers Group, as quoted in the statement.
He also emphasized that the elevator complex is modern, multifunctional and fully automated, so the group did not incur extra costs for modernization or additional equipment, which is also important nowadays.
The agroholding noted that the expansion took place in a region that, given its large land bank, was not sufficiently covered by its own grain storage facilities: until now, only three small Continental drying and grain complexes with a total capacity of 31 thousand tons were operating in Lviv region.
“Continental Farmers Group owns elevator facilities in Ternopil and Ivano-Frankivsk regions. With the acquisition of the elevator in Lviv region, the agricultural holding will be able to provide third-party consignors with a range of services for grain acceptance, determine its quantity and quality, bring it to the condition and contractual indicators, store and ship it to road and rail transport.
Mriya Agro Holding and CFG, united under the name Continental Farmers Group, have been operating as a single business since November 2018, when Mriya entered into an agreement with international investor Salic UK to sell its assets.
Salic was founded in 2012. Its sole shareholder is the Saudi Arabian Public Investment Fund, which invests in agricultural and livestock production.
