Agroholding “Mriya” is planning to increase its storage capacity for grain by 73.2%
2011-06-23 17:02:24
Agroholding “Mriya” possesses grain elevators with the total capacity of 410K tons and is initiating 4 new projects for increasing the capacity by 300K tons. According to the company itself, there is a plan to build 2 new elevators 100K tons each, one seed elevator with capacity of 60K tons and modernize existing elevator in Derenivka from 60K tons to 100K tons. Company specifies that all new elevators are located next to its land bank that includes approximately 240K hectares.
Company also states that with current storage capacity of 410K tons it ranks 5th amongst Ukrainian agro holdings, after “Kernel Group” (2.2M tons), “Nibulon” (1.5M tons), “Rise” (620K tons), “Agrotrade” (530K tons). “Mriya” is followed by Agroton with the total storage capacity of 235K tons. Agro holding also states that significant storage capacity in Ukraine belongs to internationals grain traders. According to “Mriya”, largest are: “Glencore” (Switzerland) – 35 elevators in 11 regions of Ukraine with total capacity of 1.88M tons, Toepfer (Germany) – 13 elevators in 7 regions with the total capacity of 235K tons.
“Mriya” was founded in 1992 by Ivan and Kavdiya Guti and currently it cultivates land in 4 regions in the West of Ukraine. Agro holding specializes in growing wheat, barley, rapeseed, sugar beet, buckwheat, potatoes, etc. In June 2008 Company has finished placement of 20% shares with the net worth of $90.1 M USD and in March 2011it has placed Eurobonds 250M USD worth.
During the period January-March 2011 the company has received net profit of 1.62M USD compared to (6.96M) USD net loss during the same period in 2010. Company’s revenues have grown by 2.5 times to the level of 3.98M USD. “Mriya” has also signed an agreement with International Financial Corporation according to which it received 50M USD.