31 Jan 2024 18:16

Ukraine's Kernel agroholding plans to commission Starokonstantinovsky OEP by Sept

MOSCOW. Jan 31 (Interfax) - Kernel agricultural holding, one of Ukraine's largest agro-industrial groups, has shifted the date for completing construction of the Starokonstantinovsky Oil Extraction Plant (OEP) to the end of the current September 2023-August 2024 marketing year, Ukrainian media reported, citing the company's statement.

"We plan to complete the OEP so that it is already operational at the end of this season. We will reach full capacity," CEO Evgeny Osipov said on Tuesday at a meeting of the Grain Club of the Ukrainian Grain Association.

The enterprise was previously scheduled for commissioning in spring 2024.

Osipov also said that the agricultural holding currently exports 80% of its products by sea, particularly grain crops, sunflower oil and meal. Understanding the threats and risks, the group has also continued developing alternative routes.

Osipov added that the group's investment program would total around $200 million in the current marketing year.

As reported, Kernel is completing construction of the Starokonstantinovsky OEP with total investment of $279 million. Processing capacity will be 1 million tonnes of sunflower seeds per year.

Kernel is one of the largest producers and sellers of bottled oil in Ukraine, a major producer and exporter of sunflower oil, and cultivates agricultural products and sells them.