Agro-industrial holding “Astarta” will build the first plant in Ukraine for the production of soy protein concentrate. Company announced about attracting $40 million of international investments for the implementation of this project.
An investment agreement was concluded with the International Finance Corporation (IFC). The financial package includes a $27 million loan from IFC and a $13 million soft loan from the Dutch government. These investments are protected by the guarantees of the European Commission within the framework of the Ukraine Investment Framework initiative, as well as the government of the Netherlands through the IFC Economic Resilience Action program.
The implementation of the project is expected to bring $680 million in foreign exchange annually, create an economic effect of $116.5 million and provide about 3,000 direct and indirect jobs.
Soy protein concentrate, which will be produced at the plant, is an ecological alternative to fish meal. This will contribute to the diversification of Ukrainian exports and the production of products with high added value. In addition, the plant will produce soybean molasses, a by-product that will be used in the company’s biogas plants.
“For me, this agreement is yet another confirmation of the importance of the development of the processing industry. We must move away from the model of exporting raw materials to supplying world markets with products with high added value.” – said Minister of Economy Yuliya Svyridenko.
