Krymsoda Approves a USD 56 mln 5-year Investment Program

The supervisory board of Krymsoda (KSOD: N/R), Ukraine’s largest soda ash producer, approved a five-year USD 56 mln modernization program. Around half of the total investment is supposed to be financed by bank loans, the remaining share will be covered by the company’s own funds. The program is aimed at decreasing the share of energy in total production costs, allowing the company to recover margins and to improve its competitiveness on global markets.