Nibulon lost 400 million dollars due to the Russian attack on Ukraine

Since the beginning of the full-scale invasion, Nibulon has suffered losses in the amount of about $400 million, lost about 40% of its personnel and is currently operating at 32% of its capacity.

“A few weeks ago, the Russians blew up the dam, and the investments we made for 15 years are at risk of becoming non-working,” the company’s general director, Andrii Vadaturskyi, reported to Interfax-Ukraine. He also added that restoration of the dam and navigation in Ukraine is now the number one issue.

At the same time, Vadatursky noted that the company’s terminal in Mykolaiv is currently not working, the fleet is blocked, and the Russians use barges to move military equipment. In such conditions, the resumption of grain exports from Ukraine in September 2022 helped to save the company from bankruptcy.

Nibulon also opened a new demining division and received a $4 million grant from the German government to purchase demining machines. Vadatursky noted that 1.5 thousand hectares of agricultural land have already been demined with this help.

The company also received a grant of more than $3 million from USAID for the purchase of railway wagons, and it intends to build an elevator and a flour mill in Izmail with the help of EUR 25 million from the Danish investment fund Nibulon, Vadaturskyi said.