Allseeds terminal may become the biggest vegetable oils terminal in Ukraine — Petryshche

Allseeds terminal in Yuzhny Port (Odessa region) may become the biggest vegetable oils terminal in Ukraine.

This was stated by the CEO of Allseeds Group Viacheslav Petryshche.

“At the beginning of the Allseeds history, we promised to continue developing. Now we implement these plans in the form of the second phase of construction of the vegetable oils terminal. In the future, it should become the largest vegetable oils hub in Ukraine. That is why it was decided to seek foreign investment resources,” he said.

Viacheslav Petryshche added that the increase in capacity will enable the terminal to proceed vessels of any class without taking into account the distance and with any displacement (up to 100 thou. tons).

The head of the Private Equity Funds & Corporates Asia/ECA, Jorrit Dingemans, noted that the deal was closed within a year.

“We recognize the country risks. Yet Ukraine has a competitive advantage among other countries. However, one of the reasons why we made a deal was that we used all the resources in Ukraine and also evaluated the company's place on the market. In addition, we are considering the new projects of the company. Now we are in the process of discussion with the management, one of such projects is connected with energy efficiency,” he said.

In this regard, Viacheslav Petryshche noted that in Ukraine there is a lot of talk about energy efficiency, but little has been done so far. Commenting on the company's future plans, he noted the intention to launch a project for wheat processing and the production of flour and lecithin.

“Within three years, we are planning to increase the transshipment capacity to 1.5 million tons. At the same time, we are holding discussions with European and Ukrainian experts on energy efficiency programs. Last year, FMO allocated USD 15 million to Astarta-Kyiv. We are also working on it. We are implementing logistic know-how. Investments in the expansion of processing should reach USD 200 million,” he concluded.

Previously it was reported that the Dutch development bank (FMO) and Diligent Capital Partners (DCP) had become shareholders in Allseeds having acquired 16% of shares, thus providing financing for the implementation of the company's growth strategy.