Kernel's Starokostiantyniv crushing plant construction 70% completed

The company Kernel is completing the first phase of the Starokostiantyniv crushing plant construction in Khmelnytsky region.

"Construction of the first phase is in full swing. The elevator complex is already 70% complete. All work will be finished by the end of this year. The preliminary deadline for the second phase, which is the construction of production facilities, is the end of the calendar year 2021," stated Yury Pugach, Production Assets Management Director at Kernel.

Infrastructure and trading segments proved to be the principal generator of the holding's profits in 2020. In July-September 2020, the company increased its net profit 3.4x up to USD 204 mln, while its revenue rose by 11% up to USD 940 mln.

In 2019/20, Kernel exported 8 mln t of grain.

"This is a record indicator for both the company and the Ukrainian grain market itself. Kernel's share in grain exports from Ukraine is also unprecedentedly high. Under the annual financial report of the holding, its share reached 14%. And according to the 1Q report 2021 (i.e. the third calendar quarter of 2020), even higher — 15%," the report reads.

In FY2021(July 2020-June 2021), Kernel aims to improve its performance — to export 9.5 mln t of grain, including 9 mln t through its export terminals on the Black Sea.

The company informs that the total amount of investment in the crushing plant is USD 130 mln.

The construction works started in spring 2019.

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