Verevsky is looking for interesting assets for Kernel

by Editor • 02.06.2016 • 0 Comments

Andrey Verevsky

Andrey Verevsky

It seems the dream of the characters from Ilf and Petrov's novel "The Golden Calf" about a free city on the seashore may come true: Andrey Verevsky, CEO and founder of the agricultural holding company Kernel (Read more: Farmer Andriy Verevskyi: The success story of a former Party of Regions and BYuT member) has chosen Chornomorsk (Odesa Oblast) to begin construction of a large grain handling facility – a grain terminal capable of handling at least 4 million tons of product per year.

However, Verevsky himself is in no hurry to put on rose-colored glasses, stating:
"Overall, the economic situation in Ukraine can hardly be called favorable. At the same time, agribusiness is doing well, so there are no attractive price offers for agricultural assets on the market. We, for our part, are also not prepared for aggressive acquisitions. However, we expect to find interesting assets in late 2017 or early 2018."

At the same time, he is more than confident that construction, which will require considerable investment, will still begin this fall.
"The total investment in the terminal is estimated at $100 million. We have approved almost all the documents. We hope to complete the approval process with the Ministry of Infrastructure by the end of the summer and begin construction in early autumn," said the head of Kernel.

Apparently, the company, which processes at least three million tons of sunflower seeds per calendar year, is so interested in this facility that it is actively pursuing the solution despite the challenges. No information has been released regarding the terminal's estimated commissioning date.

In topic: Farmer Andriy Verevskyi: The success story of a former Party of Regions and BYuT member

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