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Real assets · Aggregates & mining
Project Keystone
An operating granite aggregate quarry, built for the rebuild.
A permitted, certified granite quarry and modern crushing-and-screening plant in Western Ukraine, with its own rail logistics and a large contracted order book — positioned for the reconstruction-driven demand for road-base and construction aggregate. The company and exact location are disclosed under NDA.
At a glance
Open- Sector
- Granite aggregate & road-base
- Instrument
- Growth capital / JV
- Capital sought
- from US$6M
- Reserves
- ~100 Mt (~95 ha licensed)
- Capacity
- 120,000–150,000 t / month
- Geography
- Western Ukraine · under NDA
- Order book
- ≈ ₴800M contracted
- Logistics
- Own rail siding + freight yard
- Data room
- Under NDA
Executive summary
A cash-generative real asset for the reconstruction.
Project Keystone is an operating granite quarry and modern processing plant producing certified crushed stone and road-base aggregate. It holds a special subsoil-use permit over a ~95-hectare deposit with an estimated ~100 million tonnes of granite reserves — decades of extraction — and runs a high-throughput Metso crushing-and-screening line. A rare combination of permit, plant, reserves and rail logistics in a single asset.
Growth capital of from US$6M completes the rail-logistics build-out and lifts the operation toward its full 120,000–150,000 t/month capacity, against a contracted order book of ≈ ₴800M. Instrument and full terms are set out in the data room; the company and exact location are disclosed under NDA.
The opportunity
Built for the rebuild.
Reconstruction demand
Ukraine’s rebuild needs vast, sustained volumes of road-base and construction aggregate; state- and donor-funded road programmes run for years.
Certified for roads
Products are certified to DSTU 9177-2:2022 for road-base mixes (C5, C7) — directly usable in state road works, not just private construction.
Export optionality
A western-Ukraine position opens aggregate export toward the EU as domestic and cross-border demand grows.
Scarce permitted supply
Permitted, radiologically-compliant granite capacity is scarce and slow to license — a barrier that protects incumbents.
The asset
A permitted quarry with a modern plant.
Long-life reserves
~100 Mt of granite over a ~95 ha deposit held under a special subsoil-use permit — a multi-decade resource.
High-throughput line
Metso C125 jaw crusher (~870 t/h), HP300 and Nordberg GP300S cone crushers, and FS300 screens (~550 t/h) for clean fraction separation.
Capacity & flexibility
120,000–150,000 t/month, with fractions tailored to each order: 5–20, 20–40, 40–70, 70–150 mm, 0–5 mm sand, and C5/C7 road-base mixes.
Energy independence
An on-site 1 MW substation and transformer set cut energy cost and de-risk supply — a real margin and resilience advantage.
Logistics edge
A rail moat few competitors hold.
Bulk aggregate is won or lost on freight. Project Keystone ships by rail from its own siding — two loading tracks and one unloading track — connected to the national network.
- ~6.5 km access spur reconstructed (≈850 t of rail, ~10,500 sleepers) — largely complete.
- Freight yard under construction: switches, signalling and a 100-tonne twin-section rail weighbridge.
- Two overhauled diesel locomotives owned outright (≈₴37M invested).
- ~US$6M total rail-and-yard programme — the core of this raise.
Commercial traction
Contracted, not hypothetical.
Supply agreements with major road and infrastructure contractors total ≈ ₴800M (customer names under NDA). With cost of goods at roughly 50–60% of contract value, the order book carries a healthy gross margin — demand is booked, and capital is about fulfilling it.
Compliance & team
Permitted, certified, operated.
Full high-danger-works and subsoil-use permits; product conformity to DSTU 9177-2:2022; and radiological safety cleared (effective activity 205 < 370 Bq/kg, NRBU-97). Run by operators with mining, plant and rail experience who are executing the build-out now.
Products
Certified granite, every fraction.
Construction crushed stone
Dense natural granite in 5–20, 20–40, 40–70 and 70–150 mm fractions for materials, structures and works.
Road-base mixes
Crushed-stone–sand granite mixes C5 (0–70 mm) and C7 (0–40 mm) to DSTU 9177-2:2022 for road foundations.
Screening sand
0–5 mm granite screening sand for construction works.
Verified safe
Radiological safety confirmed to NRBU-97; conformity certificates held for the full product range.
Use of funds
Where the capital goes.
Rail access & freight yard
Complete the ~US$6M spur and yard: switches, signalling and the 100-tonne weighbridge.
Plant completion
Finish and optimise the crushing/screening line to hold full monthly capacity.
Handling & rolling stock
Loaders, materials handling and locomotive readiness for sustained throughput.
Working capital
Fund the ramp and the contracted order book through to steady-state cash flow.
Indicative. The ~US$6M headline covers the rail-logistics programme; the full budget is in the data room.
Terms & structure
Confidential by design.
Project Keystone is offered as growth capital / a joint venture. The operating company holds the subsoil-use permit, the processing plant and the rail assets. Structure, ownership, titles and the capital plan are provided under NDA.
Headline capital sought is from US$6M for the logistics build-out; larger participation and a full buy-in are open for discussion in diligence.
Data room
The full picture, under NDA.
Request access and sign a short mutual NDA to open the confidential materials.
Request accessInvest in Project Keystone
See the full picture, under NDA.
Request access for the confidential data room, or book a call with the team.