EBRD Invests $37 Million For Grain Terminal at Yuzhnyi Seaport
October 18, 2016
The European Bank for Reconstruction and Development (EBRD) executive board has allocated USD 37 million for constructing a bulk grain terminal at Yuzhnyi Commercial Seaport, says Artem Shevalev, Ukraine’s EBRD executive board member and former Deputy Minister of Finance of Ukraine.
America’s Cargill and MV Cargo, which operate at Yuzhnyi Commercial Seaport, Odesa region, signed an investment agreement to build a grain terminal at the seaport. The amount of planned investment is estimated at USD 100 million.
Cargill’s intention is to acquire 51 percent of the transshipment terminal. MV Cargo stevedoring company intends to build the terminal at the Yuzhnyi Seaport.
The terminal will enable Cargill to do transshipment of grains, grain derivatives and other goods. Estimated capacity of the terminal after the first phase of the construction is completed is 5 million tons. The second phase will increase the capacity by another 2 to 4 million tons.