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Mriya Agroholding to finish 50 ths mt grain elevator by yearend

Mriya Agroholding to finish 50 ths mt grain elevator by yearend

29 July 2010

Mriya Agroholding (FSE: MAYA GR) plans to launch a 50 ths mt grain elevator in Ternopil region (Derenivka village) by yearend, according to an industry web resource, which cited the Ternopil Regional Administration. The majority of the work should be finished by September. Ruslan Patlavskyy: The launch of the Derenivka silo’s second phase will increase Mriya’s total elevator capacities by 29% to 180 ths mt, implying a total grain turnover of 2.0x in 2010 vs. 2.5x in 2009. This allows the company to increase its bargaining position in selling grain and benefit from seasonal price growth for its harvest in winter. In addition to the silo capacity, Mriya’s granaries can hold 160 ths mt, which can be used as additional grain storage capacity when needed, which fully covers the company’s storage needs given Mriya’s ambitions plans to expand its land bank over 2010-13.

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