Oschadbank has entered into a loan agreement with Astarta Agro-Industrial Holding to finance an investment project to build a soybean deep processing plant.
Investment in the construction of the plant will be distributed over three years – the current year and the next two. The holding plans to finance the project mainly through free cash flow. The new plant is expected to produce up to 100,000 tons of concentrated soy protein annually.
The total credit limit is USD 60 million. The loan term is 7 years.
"This is our first large-scale project with Astarta. It is an example of exactly the projects that the Ukrainian government is counting on in its plans for economic recovery. These are Ukrainian investments in our processing industry made with funds from the Ukrainian financial system. There was intense competition between a number of banks for participation in the financing of this project. And the fact that Astarta signed an agreement with Oschadbank demonstrates the readiness of state-owned banks to support Ukrainian business during the war," said Yuriy Katsion, Deputy Chairman of the Management Board of Oschadbank in charge of corporate business.
"Agriculture and processing industries are among the sectors that are the backbone of the Ukrainian economy in terms of production, export earnings, tax payments, and job creation. Therefore, the implementation of investment projects, especially in the field of deep processing of agricultural products, is extremely important both for maintaining the country's economic stability during the war and for its post-war recovery. We are grateful to the bank's team for their well-coordinated work. It is thanks to banks like Oschadbank that Astarta has the opportunity to launch a large-scale investment project even under martial law," said Lilia Lymanska, CFO of Astarta Agrarian Holding, at the signing of the loan agreement.
