OKKO plans to build an agricultural processing plant and launch a green energy project in autumn
The enterprises will be located in the western regions
OKKO Group plans to start construction of an agro-processing plant and a renewable green energy project in the western regions of Ukraine in autumn 2023 worth about $120 million and $200 million, respectively.
This was announced by CEO Vasyl Danyliak at the Business Dialogues organised by NV media holding.
"We have not abandoned the large projects with large investments that we had previously planned. We continue to implement them. We want to launch a large agro-processing project in autumn," he said.
Mr. Danyliak pointed out that in 2021-2022, this agricultural project, which was directly related to the group's business, had been working with consultants, Ukrainian and international designers, and had not yet required investment.
The CEO clarified that the company would be located in Ternopil Oblast, where OKKO used to have a huge production site and was able to transform it for this project.
According to him, the renewable green energy project was purchased from partners at the Ready To Build stage.
"We have set geographical limits on our investments, and now we want to get geographical security," explained Mr. Danyliak his choice of western Ukraine for these projects.
Background. Recently, it became known that OKKO planned to acquire an oil refinery in Ukraine's neighbouring countries.
OKKO Group comprises more than 10 diversified businesses in production, trade, construction, insurance, maintenance and other services. OKKO-Agrotrade and Khlibprom are actively working in the agricultural sector. The flagship company of the group is Galnaftogaz, which operates one of the largest petrol stations in Ukraine under the OKKO brand.
The company's majority shareholder is Vitaliy Antonov. Minority shareholders include the European Bank for Reconstruction and Development (EBRD).
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