Kernel allocated USD 329 mln for investments in FY2019

In FY2019, Kernel will invest USD 329 million in its development, the WSE informs.

USD 42 million will be allocated for the construction of an oilseed processing plant in Western Ukraine, USD 66 million will be spent on the ongoing construction of an export terminal in the port of Chernomorsk, USD 41 million — investment in silos, USD 7 million — railway cars and USD 62 million —agricultural machinery.

The company's capital investment by 2021 will be USD 540 million, USD 100 million of which were invested by mid-2018.

As part of the development strategy until 2021, Kernel plans to build an oilseed processing plant in Western Ukraine, which will cost USD 180 million. Commissioning is scheduled for early 2021.

In 2019-2020, the company scheduled the following investments:

• USD 150 million in the modernization of its oilseed processing plants;
• USD 120 million in a new grain terminal construction in the port of Chernomorsk;
• USD 65 million in grain storage capacities;
• USD 25 million in railway cars.

Previously it was reported that in FY 2018 (July 2017–June 2018), Kernel had reduced the net profit attributable to equity holders of the company by 71.% to USD 52.1 million.