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    Reference: 20120142
    Release date: 4 April 2013

    Promoter – Financial Intermediary

    TOV FIRMA ASTARTA-KYIV

    Location

    Description

    The proposed investment programme comprises the construction and operation of eight grain elevators, one linked to a soya bean crushing and oil extraction plant of 700 t/d of soybeans. The plant and grain elevators are spread over eight different locations in Poltova, Vynnitsia and Khmelnitskiy regions in Ukraine. The total storage capacity with the necessary elevators and grain drying systems is 513,000 t.

    Objectives

    The Project improves the resource efficiency of the country's agri-food sector and contributes to better food security. The country's food self-sufficiency will be improved in terms of locally processed food, with higher environmental sustainability, better feed/food quality (health), and increased storage capacity. The Project will help to create a buffer against lower agricultural yields at times of adverse climate events and thus provides valuable climate-change adaptation measures to the country. The project will generate additional employment in Ukraine's rural communities. It also aims to support the country's economic development and its integration with international markets.

    Comments

    This operation is covered by the EU Political Risk Guarantee for EIB loans outside the EU.

    Sector(s)

    Under ELM Guarantee

    This operation is covered by the ELM Political Risk Guarantee.

    Proposed EIB finance (Approximate amount)

    EUR 50 million

    Total cost (Approximate amount)

    EUR 100 million

    Environmental aspects

    Elevator facilities are not under the provisions of Annex I or II of the EIA Directive 2011/92/EU and do not require a full environmental impact assessment ("EIA"). However, according to Ukrainian law, the Project's components require a full EIA, including public consultation. The EIA procedure in Ukraine is not at the level of the international standards, especially with regards to (1) permitting and public hearing procedures, (2) emission limits, and (3) enforcement of emissions below the limits. The Promoter has mitigated these risks by introducing open discussion with local communities and pro-actively organising public hearings for the Project's schemes.

    Procurement

    The promoter will be required to comply with the Bank's Guide to Procurement.

    Status

    Signed - 17/10/2014

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Ukraine Industry