“Kernel” acquired the river terminal “Danube Prom Agro” in the port of Reni

Agroholding “Kernel” acquired the river terminal “Danube Prom Agro” in the port of Reni on the Danube. The holding also concluded an agreement on the sale of agricultural enterprises with the land bank of 134,000 hectares.

The terminal at the port of Reni has warehouses with a storage capacity of 12,000 tons. “Kernel” plans to expand backup export options in case the “Grain Initiative” is terminated, Interfax-Ukraine writes.

Kernel plans to continue to invest in its Port Reni operations to expand capacity. Investments for this purpose are planned to be attracted thanks to the “USAID Initiative for the Sustainability of Agriculture”. $8 million will come from USAID and more than $36 million from three Ukrainian business partners.

According to forecasts of “Kernel”, joint financing will make it possible to increase the capacity of grain transportation by 3.35 million tons per year.

In addition, Kernel announced that on March 3, 2023, it closed an agreement to sell a number of agricultural enterprises with a land bank of 134,000 hectares, as well as related agricultural infrastructure, equipment and working capital to companies related to Kernel’s largest shareholder and chairman of the board directors Andrii Verevskyi.