Epicenter K to invest UAH 1.4 billion in the construction of elevators

In 2018, Epicenter K group of companies plans to invest UAH 1.4 billion in the construction and reconstruction of elevators and UAH 665 million in the modernization of agricultural machinery fleet, Interfax-Ukraine reports.

"This year the investment plan is 2 UAH billion. UAH 1.4 billion of which are allocated for the construction of new elevators, reconstruction and expansion of existing ones. UAH 665 million are allocated for the modernization of machinery fleet," said Petr Mihailishyn, CEO of Epicenter K.

According to him, the main sources of funding are free funds of Epicenter.

"We started in 2016 with a land bank of 445 hectares. Today, we have 110 thousand hectares of officially registered land. When we realized that companies are trying to become exporters, we have chosen the path of agribusiness. USD 170 million are allocated this year for the purchase of import goods, while last year we exported agricultural products for the amount of USD 50 million. There is a gap, we still need to increase export three times in order to hedge our financial risks," stated Petr Mihailishyn.

According to the analytical system YouControl, the final beneficiary of Epicenter K is MP of Ukraine Aleksandr Gerega.