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Serbs launch elevator complex worth $20 million
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04 October 2011
A daughter of Serbian agricultural company MK Group, Agro Invest Ukraine, has put into operation in Yahotyn (Kyiv region) a new elevator complex worth $20 million, of which $14 million was provided by the European Bank for Reconstruction and Development (EBRD), the Kyiv regional state administration told UKRINFORM.
"This investment has come from the Republic of Serbia. The elevator with a capacity of 113 thousand tons makes it possible to employ hundreds of workers at the plant, to produce and store goods," Chairman of the Kyiv Regional State Administration Anatoliy Prysiazhniuk said.
In turn, the Economy Minister of Serbia, Nebojsa Ciric, said that in the near future, in May-June 2012, Serbia plans to enter the IPO. "We know that the demand will not be too great, as the global crisis is continuing, and we hope to get from 250 to 300 million euros, and to send 70% of these funds to Ukraine, the Ukrainian agricultural sector," he said.
In addition, MC Group Director General Miodrag Kostic said that if the Ukrainian parliament amends the law on the moratorium on selling agricultural land, the company MK Group will triple its investments in Ukraine.
Agro Invest Ukraine is the Ukrainian subsidiary of Serbian MK Group, an investment project outside of Serbia. The company was founded in 2006. Agro Invest Ukraine consists of four divisions: in Yahotyn, Cherkasy, Vinnytsia and Zhytomyr. The holding also includes the company Agro Logistics Ukraine, which manages the elevator with a capacity of 113,000 tons of simultaneous storage at the Yahotyn unit.
Source: Ukrinform
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