Michel Terestchenko doesn’t have to look too far to see what kind of legacy his family left behind when it escaped Bolshevik rule in 1918. A central Kyiv street that borders Taras Shevchenko Park carries his surname. And the buildings that house the Russian Art Museum, Bohdan and Varvara Khanenko Art Museum, as well as the Taras Shevchenko National Museum once belonged to his family – as did the building that houses Okhmatdet Children’s Hospital.
Known as one of Ukraine’s 19-20th
century sugar-kings and philanthropists that founded hospitals, orphanages,
universities and museums, Terestchenko’s family once farmed 400,000 hectares of
mostly sugar beets.
His grandfather and ruble multimillionaire Mykhailo
was Czarist Russia’s last finance minister under Alexander Kerensky’s
provisional government. Michel aptly titled his 2011 book about his grandfather,
“The First Oligarch.”
“At one point, one in five Ukrainians
worked on sugar plantations,” Michel told the Kyiv Post in his Podil office.
But unlike his grandfather, Michel cultivates
another cash crop – flax in Sumy Oblast on land that once belonged to his
family. He doesn’t own the land. Like
many agricultural newcomers, he leases it, some 3,000 hectares, one-sixth of
which is constantly in use due to the crop’s plant rotation cycle.
Born and educated in Paris, the 59-year old
Michel tiptoed into Ukraine in the 1990s, but has been here permanently since
about 2003. He claims to have invested all his money four years ago to start
operations near Hlukhiv not far from the Kyiv-Moscow highway. The city is also home
to the Institute of Bast Fiber Crops – also a former Terestchenko family property
– which works to breed improved hemp and flax cultivators. He got the idea to
cultivate flax during a visit there in the 1990s. Although he wouldn’t say how
much start-up capital was put in to start Linen of Desna, Michel sees enormous
prospects in the flax-growing and processing business.
“Ukraine has mostly stopped farming flax – products
made from it are non-toxic, eco-friendly and its technical uses are abundant,”
said Michel.
Uses range from making insulation and
panels, to chairs, insulated boots and bags that biodegrade in six months, said
Michel in front of a desk with sample products laid out.
Employing 250 Ukrainians, he sells the
longer, better quality stems to European textile companies that produce linen,
and the shorter stems to Chinese clients for technical use.
Michel has already launched plans to scale-up
and add value to his crop. A year ago he brought in two Kharkiv brothers, as
well as other Ukrainian investors more recently to start operations in Zhytomyr
Oblast to double harvesting capacity and to produce insulation for car doors. Plans
are in the works to start manufacturing insulation by the end of this year.
“Ukraine is like America in the 1930s. Everything
is possible,” Michel enthused.
Comparisons don’t stop there. Michel
likened the entrepreneurial spirit of Ukrainians to that of Americans.
“Ukrainians are Americans, but with a soul,
and they calculate numbers faster in their heads than anyone in the world,”
said Michel.
And given the historic burden of carrying
the last name of sugar magnates, Michel understands the significance of his
endeavor.
“I realize this is a big risk (on my part).
There’s pressure for success. Failure isn’t an option…nobody will understand if
I fail,” underscored Michel.
“Yet no obstacle is insurmountable,” he
continued, quickly adding that corruption isn’t acceptable at his business.
He hopes the success of his business can serve
as an example to Ukrainians who he says don’t see a future for themselves here.
Michel lamented that the “tragedy is
Ukrainians are leaving, they don’t see that they’re needed here, but the
reality is many could do so much more here (than abroad), and lead more
interesting lives and make more money.”
As part of his heritage, Michel also
established a charity foundation in his family’s name.
However, carrying the Terestchenko name is
a double-edged advantage. People send in many charity requests to Michel
because they think he’s rich.
“As a Terestchenko, I’ve a responsibility. It’s
a great privilege, but some people who often have more money than me think I’m
in a position to help when I’m the one who needs assistance,” said Michel.
Its purpose is to give a “new last
residence” to his family, and continue doing what his ancestors did: help
clinics and hospitals as well as other charitable projects.
Michel said that despite first finding
himself in an “unusual situation” of not knowing the language, and culture, he
feels “much at home.”
“I’m here to stay,” he said confidently.
Kyiv
Post staff writer Mark Rachkevych can be reached at [email protected].
