Blago to acquire Ertilsky oil refinery
26 March 2019
Blago Group, one of Russia’s largest producers of vegetable oils, intends to buy the Ertilsky oil refinery plant in the Voronezh region of Russia. Blago has been renting the plant after it went bankrupt in early March 2018. As for 2018, the Ertilsky oil refinery managed to process about 110,000 tonnes of oilseeds, which is about half of its full capacity. Blago intends to bring the plant to its full capacity of almost 250,000 tonnes of oils per year.
The production and storage sites as well as 48 vehicles and 889 units of equipment of Ertilsky will be put up for auction for initial price of RUB 2.3 billion ($ 35.5 million).
As for 2017/18 FY, Blago produced 218,000 tonnes of oils and had a 4.8% share of the Russian market for oil production.