Astarta SPC 2024

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The proposed investment is an IFC A loan of up to US$40m and a mobilized parallel loan of up to US$40m to LLC Astarta Agro Protein in Ukraine, a subsidiary of Astarta Holding PL? (together with its subsidiaries, Astarta or the “Company”), to finance capex and permanent working capital needs for the soy business segment and prospective Soy Protein Concentrate (SPC) production facility (the “Project”).  Astarta is one of the leading integrated agricultural producers and processors in Ukraine, which operates crop growing, soybean processing, sugar production, cattle farming and milk production, and biogas production. In December 2013, Astarta commissioned a soybean processing plant in Globyno, Poltava region. In 2023 the plant processed 232,000 tons of soybeans, 73 percent self-grown on a mass balance basis, producing 172,000 tons of soybean meal. The company relies heavily on its own production of soybean and assesses market to define the additional amount to be purchased from other Ukrainian producers. In first half of 2024, Astarta’s soybean production accounted for approximately 90 percent of the soybean used in its operations on a mass balance basis. The company plans to add a SPC soybean deep processing line to its existing soybean crushing facility in the Globynsky industrial complex, Globyno, Kremenchuk district of the Poltava region. This newly planned line is designed to have a production of approximately 100,000 tons of SPC annually (capacity of 500 tons/day). SPC is derived from higher value-added processing of soybean meal, a product already being produced and marketed by Astarta. SPC serves as a raw material for the production of animal feed. This would be IFC’s fifth investment in Astarta since 2012. Previous investments, all completed since January 2021, are available at: Project #30830, Project #35536, Project #38157, and Project #40716.