OKKO to invest $120 million in the agricultural processing and $200 million in renewable energy project in 2023

OKKO to invest $120 million in the agricultural processing and $200 million in renewable energy project in 2023

Ternopil region was chosen for the implementation of the project in the point of view of the security of OKKO's investments

OKKO Group of Companies (OKKO Group) plans to start the construction of an agro-processing plant and launch a renewable green energy project worth about $120 million and $200 million, respectively, in the western regions of Ukraine in autumn 2023, CEO Vasyl Danyliak said.

"We have not abandoned large projects with large investments that we previously planned. We are continuing them. We want to start a large agro-processing project in the fall," he said in the Business Dialogues organized by the NV media holding in Kyiv on Thursday.

He clarified that in 2021-2022, this agricultural project, which is directly related to the group's business, carried out the necessary work with consultants, Ukrainian and international designers, and it has not yet required investments.

The CEO specified that geographically the enterprise will be located in Ternopil region, where OKKO previously had a huge production site and was able to transform it for this project.

According to him, the renewable green energy project was purchased from partners at the ready to build stage.

"We have set geographic "stops" for investments, we want to get geographic safety," he explained the choice of western Ukraine for the implementation of these projects.

OKKO Group includes more than 10 diversified businesses in the field of production, trade, construction, insurance, service and other services. The structural subdivision OKKO-Agrotrade and Khlibprom Concern work in agriculture. The flagship company of the group is Galnaftogaz Concern, which operates one of the largest filling networks in Ukraine under the OKKO brand.

The majority shareholder of the company is Vitaliy Antonov. Among the minority shareholders is the European Bank for Reconstruction and Development (EBRD).

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