Business news from Ukraine

CHINESE COFCO INVESTS $75 MLN IN GRAIN TERMINAL IN MYKOLAIV REGION

20 May , 2016  

KYIV. May 20 (Interfax-Ukraine) – Chinese Cofco has invested $75 million in the launch of a grain terminal in Mykolaiv region.

Interfax-Ukraine reported that the terminal was launched on May 19.

“Danube Navigation and Stevedoring Company, part of Ukraine’s Cofco Agri, with China’s Cofco as the key shareholder has opened a new grain and oilseed handling complex on berths one and two of Mykolaiv maritime merchandise port. Construction lasted 20 months – since August 2014.

“Average annual handling volumes at the terminal are 2-2.5 million of products,” Director General of Ukrainian Constructor building company Andriy Dmytrenko told reporters.

He said that the terminal started operating in the test mode in April 2016 and handled six ships for exports (around 150,000-160,000 tonnes of grain).

Dmytrenko added that 95% of the terminal’s equipment is imported.

The new terminal has two grain storage facilities with 16 silos (total capacity is 120,000 tonnes) and four silos (over 1,500 tonnes). The complex has stations for unloading trucks and railway wagons. The stations can process up to 10,000 tonnes of products a day.

The terminal has a grain dryer and a grain purifier with a capacity of 50 tonnes per hour.