Astarta to Get USD 20 mln Loan from EBRD

EBRD will disburse USD 20 mln loan to Astarta (AST PW: U/R), the bank announced yesterday. The agreement is planned to be signed on May 7th. The proceeds will be used to finance the company’s investments in energy efficiency improvements at its five sugar plants and purchase of agricultural equipment for its farms. Olha Pankiv: The company needs to finance purchases of machinery to equip land expansion planned from 135 ths ha by the end of 2007 to 158 ths ha in 2008. Earlier Astarta also announced plans to spend USD 25 mln by 2010 to upgrade production facilities.