RISOIL provided with UAH 750 mln loan by OTP Bank

In late July, OPT Bank and RISOIL group of companies reached an agreement regarding the provision of a UAH 750 mln credit facility.

The bank notes that the agreement provides for the establishment of two limits: investment and credit line to replenish working capital.

RISOIL plans to complete the construction of a double-sided pier at the grain terminal in the port of Chornomorsk at the junction of the 10th and 11th berths. Upon the project implementation, the group of companies will be able to handle two Panamax-class vessels (with a draft of up to 15 m) at a loading speed of up to 3,000 tons/h, while maintaining the already achieved indicators of cargo handling at berths.

RISOIL CEO Yevhen Sadovyi marks that the "implementation of the project will allow attracting new cargo flows to the ICC Chornomorsk and, accordingly, increase the company's cargo turnover (by 60 thou. t per day) and revenues to the state budget, as well as create new jobs."

As a reminder, the co-owner of RISOIL group of companies Shota Khajishvili withdrew from the concession project of the Port of Kherson.

For context, Risoil signed an agreement on participation in a concession project in the Port of Kherson in July 2020.