Kernel acquired vegetable oil transshipment assets at the port of Chornomorsk for $19.4M to increase the sustainability of its oilseed processing business. This provides storage capacity for 105,000 tons of sunflower oil. The terminal was previously inactive, so it will take some time to make it fully functional.
In addition, the company will purchase 100% of the shares of Reni-Oil for $24.75M. This is a sunflower oil transshipment terminal in the Rhine port on the Danube, where a maximum of 15,000 tons of product can be stored.
“This is the only terminal with a proper fence, which allows the export of sunflower oil even in the event of a blockade of the Black Sea ports,” the message reads.
The company is also close to commissioning a new state-of-the-art oil extraction plant in the Khmelnytskyi region in the spring of 2024. This facility will have an annual processing capacity of one million tons of sunflower seeds, making it the largest in Ukraine.