EBRD Pledges $25M to Astarta Grain
The European Bank for Reconstruction and Development (EBRD) has pledged $25 million to Ukrainian agricultural group Astarta Grain. Founded in 1993, Astarta focuses on the cultivation of grains and sugar beets, leases 250,000 hectares of farmland in Ukraine, and is active in soybean processing and dairy farming.
The funds will be earmarked to finance the upgrading and modernization of Astarta’s grain and sugar facilities in order to achieve greater operating and production efficiency.
With the backing of the EBRD, Astarta plans to construct and/or acquire six grain storage facilities with a combined capacity of 480,000 tons, and construct one sugar storage facility with a capacity of 50,000 tons. The new sites will be located on undeveloped land in Poltava and Khmelnitsky.