“Kernel” purchased warehouses and a terminal in the ports of Chornomorsk and Reni for over $40 million

Agroholding “Kernel” invested more than $40 million in capacities for transshipment of vegetable oils in the ports of Chornomorsk and Reni.

Investments amounted to $44.15 million. “Kernel” purchased warehouse facilities in the port of Chornomorsk for $19.4 million, as well as a sunflower oil transshipment terminal in the port of Reni for $24.75 million, reports Latifundist. 

The simultaneous storage capacity of sunflower oil in the amount of 105 thousand tons will give the agricultural holding the opportunity not to stop the work of processing plants in case of interruptions in transportation.

If Ukraine’s Black Sea ports remain blocked, the Group intends to use such assets as an important storage and transshipment hub to receive sunflower oil by rail, store it in warehouses, and then reroute it by truck to a port on the Danube River.

If the ports are unblocked, the assets will be used as the main deep-sea transshipment base for sunflower oil sent for export.

Also, “Kernel” concluded an agreement for the purchase for $24.75 million of 100% corporate rights in “Reni-Oil” LLC – a sunflower oil transshipment terminal with simultaneous storage of 15 thousand tons in the port of Reni. The agreement is planned to be completed by December 31.

Read also: Kernel spoke about the consequences of Russian attacks on port infrastructure