The Board of Directors of the agricultural holding Astarta, the largest sugar producer in Ukraine, has approved the decision to begin construction of an oilseed processing plant, including soybeans and rapeseed, in the Khmelnytskyi region, with an investment of $76 million, the company’s press service reported on Facebook.
According to the announcement, the planned capacity will be 400,000 tons per year. The plant is expected to be operational by 2026.
"Astarta continues to strengthen its position in the processing sector by investing in new production capacities. The growing demand for soybean processing products in the EU opens up new opportunities, and we are ready to seize them, utilizing our experience and expertise. The new oilseed processing plant will expand the range of ingredients for the feed base," said Vyacheslav Chuk, Director of Commercial Activities and Strategic Marketing at Astarta.
The agricultural holding noted that the project will make effective use of the existing infrastructure, contributing to the development of the agricultural industrial ecosystem in the western region of Ukraine.
"The Astarta team is already actively working on the project. Just today, we completed the agreement process with the equipment and extraction technology manufacturer. We are awaiting a decision from the Narkevytska territorial community regarding land allocation for the project. According to our experts, this project complies with the 'State Support for Investment Projects with Significant Investments in Ukraine' law, so we intend to apply for participation in the program to expedite its implementation," added Chuk.
Astarta is a vertically integrated agribusiness holding operating in eight regions of Ukraine. It includes six sugar plants, agricultural enterprises with a land bank of 220,000 hectares, dairy farms with 22,000 head of cattle, an oil extraction plant in Globyno (Poltava region), seven elevators, and a biogas complex.
In 2023, the holding reduced its net profit by 5.0% to EUR 61.9 million, and its EBITDA decreased by 6.1% to EUR 145.77 million, despite a 21.3% increase in revenue to EUR 618.93 million.
In January-September 2024, Astarta increased its net profit by 35.1% to EUR 75.6 million, EBITDA by 12.8% to $131.56 million, and revenue by 12.6% to EUR 441.46 million.
