HarvEast agroholding plans to invest around $4 million in a seed plant in Donetsk region, Director General of the holding Dmytro Skorniakov has said.
“Near $3 million will be needed for launching, another $1 million for infrastructure,” he said during the signing of cooperation agreements with the seed company Maisadour in Kyiv on Thursday.
According to HarvEast, the plant will be launched in August 2018. Its capacity will be 8 tonnes per hour.
The enterprise will focus on the production of sunflower, beans (peas, lentils) and cereals (wheat, barley).
In addition, according to Skorniakov, HarvEast intends to invest almost $6 million in irrigation in the coming years, adding that the area under irrigation for growing seeds is planned to expand to 2,500 hectares.
“This year we are introducing almost 800 hectares of irrigation, and next year we are planning another 1,500 hectares. This is on the section between Berdiansk and Mariupol,” he said.
HarvEast’s core business is crop farming (growing wheat, sunflower, barley, perennial grasses, and corn) and dairy farming.
The holding was founded in 2011 on the basis of agricultural assets of Mariupol Illich Steel Works (Donetsk region).
Shareholders in HarvEast Holding are SCM and Smart-holding Group.
