14 Jun 2022 16:44

Ukraine's Kernel, UGTC Trade building rail terminal for grain near Polish border

MOSCOW. June 14 (Interfax) - Ukraine's Kernel and grain trader UGTC Trade are building a railway terminal to transship grains, capacity 100,000 tonnes per month, Kernel said.

The location, in the settlement of Mostyska 2 in the Lviv region close to Ukraine's border with Poland, "will make deliveries to European countries faster and safer," it said.

The partners are already planning a "gradual transition the narrow European gauge" of rail track.

Kernel said in a recent financial report that it "remains focused on establishing alternative export routes via Ukraine-EU borders and Ukrainian ports on Danube, but limited progress has been achieved so far due to numerous bottlenecks along the road."

Kernel is Ukraine's largest producer and exporter of sunflower oil but it also cultivates and process other crops. The largest co-owner of Kernel through Namsen Ltd. is Ukrainian businessman Andriy Verevsky with 38.05%.

UGTC Trade LLC says on its website that it has been engaged in wholesale trade, including exports, of grains, oilseeds and pulses since 2019. It owns five terminals in Ukraine. Andriy Verevsky is the indirect owner of 60% of UGTC Trade.