One of the largest agricultural holdings in Ukraine is resuming a processing project and investing $60M.

In the fourth quarter of the year, Astarta Holding will resume the construction of an additional soybean processing line at the Globino processing plant in the Poltava region, which will allow the production of up to 100,000 tons of concentrated soybean protein per year, the company reported.

It is noted that the project’s cost was $50M when it was first announced in 2021, but considering inflation, it is now estimated at $60M. Investments will be distributed over three years and financed mainly through the company’s cash flow.

The plant can produce approximately 160,000 tons of high-protein soybean meal, 40,000 tons of soybean oil, and 9,000 tons of pelleted hulls annually. Before the war, more than 80% of the company’s products were supplied to the EU and Middle and Far Eastern countries.

In the fall of 2021, the company predicted that constructing an additional line would double the EBITDA indicator in the soybean segment and increase sales.