KYIV. June 15 (Interfax-Ukraine) – Public joint-stock company State Food-Grain Corporation seeks to invest UAH 230 million in modernization of own elevators in 2016.
“We have allocated UAH 230 million from the company’s budget to upgrade our elevators,” acting Board Chairman Borys Prykhodko said at a press conference in Kyiv on Tuesday.
He said that the corporation intends to use the fund by the start of the late crop harvesting.
The corporation wants to invest money in building a port terminal. The project is being designed and discussed with the Infrastructure Ministry.
Prykhodko did not disclose what funds will be used to build the terminal.
The corporation increased grain exports from 2.34 million in 2014 to 2.85 million in 2015.
In Q1 2016 the corporation shipped 925,000 tonnes of grain for exports.
“If we are lucky, in 2016-2017 agricultural year we will export 3.5 million tonnes of grain,” he said.
He said that Mykolaiv port elevator handled 1.219 million tonnes of grain in 2015 and Odesa port elevator – 542,400 tonnes.
Prykhodko added that the capacity of the corporation does not allow full implementation of grain handling and exports plans. The corporation seeks to build the new terminal.
The government in August 2010 decided to create the State Food and Grain Corporation of Ukraine. The corporation has a chain of branches, comprised of grain storage facilities, flourmills, fodder factories and a cereals factory. The 53 subdivisions of the corporation can store a total of 3.75 million tonnes of grain, which includes the grain handling capacities of Odesa and Mykolaiv ports of some 2.5 million tonnes of grain cargo per year.
