IFC signs contract with Agrofusion ahead of schedule
12.06.2018 23:46 "Agro Perspectiva" (Kyiv) —
As of recent, the International Finance Corporation (IFC) has signed a contract to provide Agrofusion, the largest Ukrainian vertically integrated producer of tomato paste, a long-term US$17 million loan, Interfax-Ukraine says referring to the IFC report.
As to the report, the finances are intended to expand the Agrofusion activity within 20182019 and refinance its obligations. The project total cost is estimated US$30 million.
As to the IFC, this will be its third Agrofusion-related project.
It is to be admitted, Agrofusion is the largest Ukrainian vertically integrated tomato paste producer. It was founded within 2007 by a businessman Serghiy Sypko.
Agrofusion includes 3 tomato paste output plants (total output about 750,000 tons tomatoes per season) as well as agrarian companies within the Kherson region and Mykolayiv region, cultivating 25,000 ha irrigated land, and two hothouse farms.
As of 2017, Agrofusion expanded its capacity, reaching 79,443 tons tomato paste output (up against 64,800 tons as of 2016). It is to be admitted, now Agrofusion exports 70% of its tomato paste into 35 countries.