Continental Farmers Group acquired grain storage in western Ukraine

Continental Farmers Group (CFG), a subsidiary of Saudi Arabia's SALIC in Ukraine, has announced an acquisition in western Ukraine—an 87.5 thou. t grain storage in Horodenka town in Ivano-Frankivsk region.

Continental Farmers Group CEO Georg von Nolcken marks that investments in Continental's infrastructure and technical park development have reached USD 72 mln for the last 2 years.

Georg von Nolcken

Continental Farmers Group CEO

"In addition to the acquisition of the elevator, we launched another investment project – the construction of a modern potato storage facility with a capacity of 16 thou. t in Lviv region, one of these days we plan to commission it"

Reportedly, Continental already owns 4 grain elevators and 3 grain drying complexes with a total storage capacity of 420 thou. t in Ternopil and Lviv regions. The elevator acquired by the company in the Ivano-Frankivsk region will allow Continental to store simultaneously more than half a million tons of crops and optimize logistics from the field to the elevator.

“The acquisition of the elevator in Horodenka is another step on the way to expand Continental production capacity, as well as another investment in the agricultural industry, confirming the company's intentions to work and develop business in Ukraine for a long time,” adds Georg von Nolcken.

Previously reported that CFG harvested 459.4 thou. t of the new crop during the first phase of the campaign.