The company Agroliga Agricultural Holdings today announced it is to build a new sunflower oil extraction plant at the town of Vodolaha in Kharkiv Region.
Company CEO Olexander Berdnik said that the project will cost $9m, with $6.7m having been secured from external investors.
The first part of the facility, which will be able to process 10 tons of oil per month, will be launched next year, he said.
Berdnik described the process of raising funds for the project as “prompt”, and said that initial payments relating to manufacture and supply of equipment have already been made. He said that he hoped the foundations of the building would be complete before the onset of winter.
The company says that once it reaches full operation, the new plant will account for 10-12% of the 170,000 tons of sunflower oil produced in Kharkiv Region annually.