A large producer of sugar invests $ 10 million in the plant in the Mykolaiv region

A large producer of sugar invests $ 10 million in the plant in the Mykolaiv region

18.05.2016 News

A large producer of sugar invests $ 10 million in the plant in the Mykolaiv regionThe  ED&F Man Ukraine company plans to invest another $ 10 million in a sugar refinery in the Mykolaiv region and expand its land bank to 45-50 thousand Ha. The previous investments of the company in the mentioned plant consisted about $ 30 million.

This was announced by the Director of ED&F Man Ukraine – Igor Buchatskyi.

“We did not build the sugar refinery from scratch, we bought it and remodeled, having invested about $ 30 million. We are planning to invest 10 million dollars more – especially in the improvement of the equipment”, – he said.

According to Buchatskyi, the plant capacity now allows to process up to 600 thousand  tonnes of the white beet in the season and produce up to 60 thousand tons of sugar.

In the 2015/2016 season sugar refinery ED&F Man Ukraine has made only 10 thousand tons of sugar, the entire volume was sold on the domestic market; next season the company plans to produce not less than 30 thousand tonnes of sugar.

In addition, the company plans to expand its land bank in Ukraine under the cultivation of sugar beet to increase the share of own raw material processing plant.

Now in the processing of included in the ED&F Man Ukraine Company “Agro-Business” are 10 thousand hectares, up to the end of the year it is planned to expand land bank for another 5 thousand hectares, and in the future – to 45-50 thousand hectares.

As previously reported, the ED&F Man company was established in London in 1787 and is now one of  the leading agrotraders; it specializes in the procurement, transportation, storage, processing and selling  of sugar, molasses and coffee, as well as management of risks concerning these products.

In Ukraine, ED&F Man is represented by two companies – the “Ukrainian Sugar Company” that bought 75% of the shares of “Zaselskyi sugar plant” in the Mykolaiv region in 2007, and the “Agro-Business” agricultural company that specializes in the production of sugar from white beet and raw sugar.

Source: delo.ua

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