KYIV. Feb 24 (Interfax-Ukraine) – U.S. company Cargill and M.V. Cargo, operating in the Yuzhny seaport in Odesa region, have signed an investment agreement, on the construction of a grain terminal in the port.
The agreement was signed at the Ukrainian government’s building on Wednesday.
“Cargill decided to invest $100 million in the construction of a grain terminal in the Yuzhny port to make it one of the largest hubs in Ukraine,” Ukrainian Prime Minister Arseniy Yatseniuk has said.
As reported, in August 2015, the Ukrainian Sea Port Authority and MV Cargo LLC signed a trilateral memo on the joint implementation of investment project in Yuzhny port (Odesa region).
The document confirmed Cargill’s intention to acquire 51% in a transshipment terminal, which M.V. Cargo stevedoring company will build in Yuzhny seaport. Under the terms of the memorandum, before construction the Ukrainian Sea Ports Authority undertakes to establish water area on the way to the terminal with an appropriate level of dredging.
“The new terminal implies more port charges, more revenues to the local and national budgets, more high paid jobs for Ukrainians. In fact, after the implementation of the Cargill investment project Odesa region will get up to 350 new jobs. We want the similar projects of the world renowned companies to become a positive signal for businesses preparing to enter Ukraine,” Minister of Infrastructure Andriy Pyvovarsky said then.
The terminal will allow Cargill to handle grains, cereals and other goods. The capacity of the first phase of construction will amount to 5 million tonnes. The second phase would increase the capacity by another 2-4 million tonnes.
