The European Bank for reconstruction and development approved the granting of a major Ukrainian manufacturer of pet food LLC “Kormoteh” (Lviv oblast) loan in the amount of 10 million euros for the construction of a new plant in Lithuania.
About it reports Interfax-Ukraine with reference to the EBRD, reports Biznestsentr.
Reportedly, this funding is part of a wider investment programme that includes construction of a new plant in Lithuania and the expansion of the group’s activities in Ukraine.
“The purpose of this program expansion is to meet growing domestic demand, as well as geographical diversification of sales with the strategic goal of becoming one of the leading companies on manufacture of forages for Pets in the world. The construction of the plant in Lithuania “Kormoteh” will create a new database on the common EU market and provide a better access to the EU, as well as to more distant export markets in regions such as Latin America”, — stated in the message.
Pre-investment legal analysis this project is partially funded from the General Fund for technical cooperation of Japan and the EBRD.
In the framework of the project “Kormoteh” will also support the expansion of specialized veterinary training throughout Ukraine with the aim of improving employment opportunities for young professionals from remote regions.
As reported, the kormotech in 2018, began the construction of a plant for the production of fodder in Lithuania. Planned capacity — 5 thousand tons of wet forage per year.
Kormotech exports its products to 25 countries including France, Estonia, Netherlands, Slovenia, Poland. The facility includes two plants for the production of dry and wet food in the Lviv region. The company manufactures products for cats and dogs under its own brands Optimeal, “Club 4 paws” (TM “meow!” and “woof!”) and in the direction of private label.
The ultimate beneficiaries of the kormotech are Elena and Rostislav Vovk.
According to EBRD, the kormotech is one of the three largest producers of pet food in Ukraine.