FMO will Provide Astarta with a credit for development of resource saving projects

The Netherlands Development Finance Company (FMO) allocates a $25 million loan to the agri-industrial holding Astarta-Kiev.

The information is provided by the press service of the company.

The financing is allocated for the development of the energy efficiency program in the sugar production of the company.

"In particular, the loan funds will be directed to the re-equipment of sugar factories in accordance with the best available techniques and technologies (Best Available Techniques), which will allow us to reach a new level of productivity and energy efficiency," was mentioned in the report.

In addition, the financing covers the construction of a complex of water treatment facilities in Astarta’s Globino industrial cluster, which includes sugar and soybean processing plants, as well as the Bioenergy Complex. With the support of FMO, a technical rationale for water treatment plant has already been developed. Thanks to this project, the cluster enterprises will be able to reduce water consumption by an average of 50%.

"Improving production technologies and finding the most effective solutions to reduce resource consumption is an ongoing process in our company. New financing from FMO will allow Astarta to continue the strategy of qualitative growth of the business," said Victor Ivanchik, CEO of Astarta-Kiev.

Let us remind that on May 23, the shareholders of the Astarta-Kiev agri-industrial holding accepted the proposal of the Board of Directors to refuse dividends for 2016. The shareholders decided to allocate the revenue of € 82.7 million to form retained earnings.