The OKKO Group plans to fully launch a bioethanol plant worth EUR 110 million in the third quarter of 2026, announced CEO Vasyl Danylyak.
"This year, we aim to fully complete the elevator and warehouse group, which will allow us to start receiving corn from our cluster. In the third quarter of 2026, we plan to fully launch the plant," Danylyak said on Thursday at the “Construction and Infrastructure: Key Growth Sectors for the Economy” conference organized by the analytical center We Build Ukraine.
He noted that the total investment in the plant during 2024-2026 would amount to EUR 110 million, with EUR 35 million coming from the group's own funds and EUR 75 million from debt financing. Of the latter, EUR 60 million was provided by the EBRD for a period of nine years, while Raiffeisen Bank Ukraine contributed EUR 15 million for seven years.
According to Danylyak, the plant's annual production capacity will be 83,000 tons of bioethanol, which will be increasingly needed with the mandatory addition of 5% of this alcohol to motor gasoline starting from May 1, 2025. Additionally, the plant will produce 70,000 tons of animal feed and process 270,000 tons of corn.
As reported, in June 2024, the European Bank for Reconstruction and Development (EBRD) and OKKO signed a loan agreement for EUR 60 million for the construction of the new bioethanol plant in Ukraine at the Ukraine Recovery Conference in Berlin.
The OKKO Group encompasses over 10 different businesses in production, trade, construction, insurance, service, and other sectors. Its flagship company is the concern "Galnaftogaz," which operates one of the largest gas station networks in Ukraine under the "OKKO" brand, with around 400 filling stations.
