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$9mln oil extraction plant to be built in Kharkiv region

$9mln oil extraction plant to be built in Kharkiv regionAgricultural holding Agroliga launches a new oil extraction plant (OEP) on processing sunflower with estimates of $9 million, NV Business.

This was announced by CEO Alexander Berdnikov, according to Agroliga press service.

"The total amount of funding estimated at $ 9 million, $ 6.7 million of which will be financed from borrowed external sources," Agroliga CEO said.

He said that land for construction, necessary communications, and railway connections have been allocated in the urban-type village of New Vodolaga (Kharkiv region).

OEP is designed for processing capacity of 170.000 tons of sunflower per year.

The company also believes that after the launch of the plant Agroliga's share in the sunflower oil market in Kharkiv region will reach 10-12%.

The first stage of the plant, which provides processing of 100.000 tons of seeds per year, will start its work in September-October 2017.

Raiffeisen Bank Aval is set to fund the project.
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