The agroholding Kernel plans to complete the acquisition of 100% of the shares of Reni-Oil LLC by the end of December 2023. In 2023, the company also acquired assets in the port of Chornomorsk.
According to the latest company's report , the Reni port terminal for sunflower oil transshipment has a capacity for simultaneous storage of 15,000 tons. The acquisition of this asset cost the company $24.75 million.
"This is the only terminal among the Danube ports with proper facilities for reception, storage, and unloading, allowing the export of sunflower oil even in the event of a blockade of the Black Sea ports. The deal is expected to be completed by December 31, 2023," the report states.
In addition, in 2023, the company acquired assets for the transshipment of vegetable oils in the port of Chornomorsk for $19.4 million.
"The simultaneous storage of 105,000 tons of sunflower oil will allow the Group not to stop processing plants during transport disruptions, as was the case in the 2022-2023 financial years, and smooth out logistics," the report says.
If the ports of Chornomorsk are unblocked, the assets will be used as the main deep-water transshipment base for exporting sunflower oil.
