The International Finance Corporation (IFC) could provide a long-term corporate loan of $17 million to the largest tomato paste and industrial tomato producer in Ukraine, the Agrofusion Group. According to a posting on the website of IFC, the funds are provided to finance the company’s 2018-2019 expansion and debt refinancing program.
The total cost of the project is $30 million. The project is pending approval.
IFC said that this will be the third project with Agrofusion. Agrofusion Group, founded in 2007, belongs to businessman Serhiy Sypko. Agrofusion includes three tomato paste production plants with the processing capacity of about 7500,000 tonnes of tomatoes per season, as well as farms in Kherson and Mykolaiv regions, processing 25,000 hectares of irrigated land, and two greenhouse farms.
