SFGCU may be permanently liquidated

The State Food and Grain Corporation of Ukraine (SFGCU) may be liquidated.

Initially, the issue of a technical default of the SFGCU and its restart was considered, LegalHub reports, citing its own source in the Ministry of Economy.

Moreover, the issue of providing the company with agricultural land for rent was resolved. But now they are considering the option of completely closing the corporation and repaying its debt to China in the amount of UAH 23.9 billion (USD 858.7 million). It is proposed to absorb the debt with the property of the company – for example, silos.

“The corporation itself showed chronic inefficiency, and everyone came to the conclusion that there was only one way out,” a source in the ministry said.

Earlier, USM reported that the SFGCU may be divided into three companies: Grain Trader, Logistics Business, and a project with the code name Joint Enterprise Ukrainian-Chinese Infrastructure Fund.

Read also: SFGCU does not have funds to sink the “Chinese loan”