Information for fruit and vegetables business in CIS
EBRD can grant Bunge affiliates up to $58 mln for Ukrainian projects
European Bank for Reconstruction and Development can grant Suntrade S.E. and Dnipropetrovsk Oil Extraction Plant, which are affiliate companies of American Bunge Ltd, up to $40 million of credit. It can also grant "Black Sea Industries" and its local partners an intermediate credit in the amount of $18 million for construction of an oil crushing plant in the Black Sea port of Ilyichevsk.
An EBRD spokesman said its Board of Directors was planning to examine the issue about granting this credit on June 28.
The whole cost of each of the projects will be $180 million and $36 million accordingly.
As it has been reported before, Bunge Ltd - a multi-national agribusiness and food corporation - intends to build a new oil-crushing facility with 600,000 tonnes of annual capacity in Ilyichevsk port.
At the end of April 2005 EBRD and ING Bank N.V. (the Netherlands) granted another new oilseed crushing facility, located in Ilyichevsk (Ilyichevsk Oil-Extraction plant, Odessa region), a credit in the amount of $30 million for purchases of raw material and renewal of current assets.
Ilyichevsk Oil-Extraction Plant is a joint venture of Dutch ADM Nederland and Swiss Risoil Group, with each of the participants having 50 percent share in the enterprise.
EBRD is the largest investor in Ukraine. The worth of its investments in this country up to the moment has totalled 1.7 billion euros in 67 projects. The bank invested a total of 3.3 billion into 220 farm complex projects in 27 countries.