Kernel to commission Starokostiantyniv OEP by the end of 2021 — CEO Osipov

Kernel plans to finalize the construction and commission of the Starokostiantyniv crushing plant by the end of 2021. This was announced by Yevgeny Osipov, the CEO of the company.

"We must focus on the completion of two large-scale investment projects: the construction and launch of Starokostiantyniv OEP by the end of 2021, and the commercial launch of turbines at our oil extraction plants and the sale of electricity under a green tariff," he said.

He added that the works have already been completed at Kropyvnytskyi OEP, and this autumn the company is expecting the completion of the project on green energy at Black Sea Industries, Bandurka and Poltava OEP.

"In early 2020, we launched the first phase of TransGrainTerminal. In March, the facility provided for the shipment of about 120 thou. t, next month we plan to transship 250 thou. t. The launch of these capacities in full is strategically important for the company. Already today TransBulkTerminal and TransGrainTerminal allow us to export record for Ukraine 650 thou. t a month. But our task is even more ambitious, the transshipment of 1 mln t a month at the peak of the season," concluded Yevgeny Osipov.

Note: Kernel initiated the construction of the Starokostiantyniv crushing plant in spring 2019. The designed capacity of the enterprise is 1 mln t p.a. The total amount of investment is USD 130 mln.