EIB considers the provision of USD 250 mln credit facility to Kernel

The European Investment Bank (EIB) is considering a project on the long-term financing for Kernel in the amount of USD 250 million (EUR 220 million).

EIB funds are expected to enable the company to improve trade and export logistics by constructing new grain silos (accessible also to third parties) and transhipment facilities, to construct and install several biomass-based CHP units and a new greenfield sunflower oilseed production plant.

The total cost of the project is estimated at USD 519 million (EUR 456 million).

"The project will also create new employment and help secure existing employment in rural areas and, therefore, contribute to agriculture/bio-economy in Ukraine," the message says.

Previously it was reported that in FY2019 Kernel would invest USD 329 million in its development.