PROJECT

Projects

Summary of Investment Information

Project Number

35536

Company Name

ASTARTA-KYIV,TOV

Date SPI Disclosed

Jul 20, 2015

Country

Ukraine

Region

Europe

Projected Board Date

Aug 28, 2015

Environmental Category

B - Limited

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Gbl Ind, Manufact, Agribus & Services

Industry

Agribusiness and Forestry

Previous Events

Approved : Sep 25, 2015
Signed : Sep 30, 2015
Invested : Dec 16, 2015

Sector

Sugarcane and Beets

Project Description

The Project will support LLC Astarta-Kyiv (the “Company” or “Astarta”), a leading primary agriculture producer in Ukraine with 245,000 ha of land under cultivation.

Astarta’s principal activities include (i) production of sugar beet and white sugar, (ii) production of other crops including wheat, barley, corn, sunflower, and soya, (iii) soybean processing, and (iv) cattle farming. The Company owns and operates 9 sugar plants, soybean processing plant, bioenergy complex, and chain of grain silos and supporting infrastructure facilities in 4 operational regions in Ukraine.

The Project will help Astarta secure working capital financing to buildup soybeans stocks during the harvest season, when the availability of soybeans from local farmers is at peak and the prices are normally the lowest, thus allowing the Company to achieve sustainable supply raw material for processing and limit its crushing margin volatility.

Associated Advisory Engagement

IFC Advisory Services are in discussions with the Company on (a) providing a feasibility study on transforming the molasses by-product of sugar production into bio-ethanol, a value added product; (b) supporting a detailed engineering study for an enhanced biogas technology selection; and (c) potentially a study on increasing sugar beet yield and sugar level content in beet.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation