Astarta  agricultural company invests € 24 million in development of its  business

Astarta agricultural company invests € 24 million in development of its business

04.02.2016 News

Astarta  agricultural company invests € 24 million in development of its  business According to the CEO of Astarta, Victor Ivanchik, the investment plan has already been approved. The money also will be spent on the modernization of agricultural production and technology, modernization of sugar factories.

The total investment of agricultural holding Astarta for 2016 remains at the level of 2015 and amounts to € 24 million, 60% of them are investments in agricultural production, 30% -sugar  production, 10% – other business segments. In particular, this year planned investments to increase the capacity of 2 elevators (60-80 ths. tons) and the purchase of equipment.

Viktor Ivanchyk, the general director of agricultural holding said about this:

“As in 2015, characteristic of the rotation remains a significant part of the sugar beet, wheat, soybean, corn and sunflower. Condition of winter crops is satisfactory, not all winter crops sprouted in eastern Ukraine. Spring will show the true situation, but we are ready for any option”.

For spring planting fertilizers and seeds were purchased. Fully signed contracts for the supply of plant protection products. In the process are contracting on fuel.

“The approximate price of diesel fuel is seen at 13.5 – 14 thousand UAH / ton” – Said the director of the company.

In general, over the last 10 years the amount of investment in business development of “Astarta” amounted to $ 500 million.

Astarta is the agricultural holding, the main business areas of which are the production of sugar and related products, grains and oilseeds, as well as milk and meat. The company is the leader of the Ukrainian sugar market and one of the largest milk producers in the country.

Source: agroportal.ua

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