The Creative group, one of the largest producers of oil and fat products in Ukraine, may begin construction of an oil terminal at a port with a capacity of approximately 1 million tons per year in 2014. The group’s Board Chairman Yurii Davydov announced this to reporters, the Interfax Ukraine news agency reports.

"We are current thinking very seriously about our own oil terminal. I think it will most likely be at Ilyichevsk. We will begin to implement this project this year," said Davydov. At the terminal, the company intends to service its own operations involving import/export of oil, as well as to provide the relevant services to other market participants.

Davydov added that the company plans to launch two new elevator complexes with a total capacity of 126,000 tons in 2014.

The total volume of capital investment in business development is expected to be at least USD 40 million in 2014. The company invested about USD 54 million in expansion of its elevator capacity and the launch of a new soybean processing line in 2013.

The Creative group is one of the largest producers of oil and fat products in Ukraine. It specializes in production of refined vegetable oil, modified fats, hard and soft margarine, mayonnaise, and other products. In addition, it engages in production and sale of biofuel pellets, animal husbandry, and cultivation of grain and industrial crops. The Creative group consists of three plants with a combined annual sunflower-seed processing capacity of about 1.1 million tons and four plants for production of modified fats and margarines with a total annual production capacity of more than 200,000 tons (Kirovograd region). The group also includes a soybean processing plant with an annual capacity of 270,000 tons.