PROJECT

Projects

Summary of Investment Information

Project Number

38157

Company Name

ASTARTA-KYIV,TOV

Date SPI Disclosed

Apr 28, 2016

Country

Ukraine

Region

Europe

Projected Board Date

May 30, 2016

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 : May 31, 2016
Signed : Jun 1, 2016
Invested : Sep 13, 2016

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 approximately 250,000 ha of land under cultivation.

Astarta’s principal activities include (i) production of sugar beet and high quality 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 finance its general working capital needs and purchase crops from local farmers during the harvest season, when the availability of crops 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 margin volatility.

Associated Advisory Engagement

As an example, IFC Advisory Services are either performing or are in discussions with the Company on (a) supporting a detailed engineering study for an enhanced biogas technology selection; (b) providing a feasibility study on transforming the molasses by-product of sugar production into bio-ethanol, a value added product; and (c) performing 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