Allseeds Black Sea, a new oil extraction plant, has been launched at the Yuzhny port, reports.

The plant is capable of processing 2,400 tons of sunflower seeds per day, or 1,500 tons of soybeans. Investment in the facility amounted to about USD 200 million. Companies based in the Netherlands and Switzerland invested these funds.

Construction of the plant began in 2012, and the second phase of the project has now been completed. The entire project is planned for completion in 2021.

"We would like to present that there will be a cooperation program between Switzerland and Ukraine in the next four years, the volume of investments in which will total USD 100 million, which we are ready to spend on agriculture," Switzerland’s Ambassador to Ukraine and Moldova Christian Schoenenberger said during the opening ceremony, the Interfax Ukraine news agency reports.

The Allseeds group of companies was created in the second quarter of 2010. The company entered the market of oil crops as a trader after attracting foreign investors (Switzerland, Germany, and the Netherlands). It completed the construction of a terminal for transshipment of vegetable oils with a capacity for simultaneous storage of 42,000 tons and launched its operation in 2013