The International Finance Corporation (IFC, International Finance Corporation) will provide the Ukrainian agro-industrial holding Astarta with a long-term loan of up to $ 30 million, Interfax-Ukraine reports.
According to the IFC, the corresponding decision was made by the board of directors of the corporation on March 23. IFC clarifies that this is the fourth program of cooperation with Astarta, starting in 2012.
Credit funds are provided to introduce modern accessible technologies and highest standards at enterprises of the agro industrial holding in order to improve the use of resources. In addition, part of the finance can be directed to the development of livestock, as well as to trade in grain and oilseeds.
According to the IFC, the project will allow Astarta to reduce the share of emissions to the atmosphere and waste in production, reduce water and gas consumption, and save money in the production and storage of sugar beets.
«Astarta» is a vertically integrated agro-industrial holding company operating in Poltava, Vinnytsia, Khmelnitsky, Ternopil, Zhytomyr, Chernigov, Cherkasy and Kharkov regions. The holding company includes eight sugar factories, agro-farms with a land bank of about 250,000 hectares and dairy farms.
According to the results of 2017, the company reduced net profit in comparison with 2016 by 25.2% to € 61.84 million, EBITDA — by 21%, to € 120.24 million. Consolidated revenue increased by 24.3% to € 458.6 million.