KYIV. Oct 28 (Interfax-Ukraine) – The European Bank for Reconstruction and Development (EBRD) is mulling the provision of a $37 million loan to MV Cargo LLC to finance the construction of a grain terminal at Yuzhny port (Odesa region).
The EBRD said on its website that the total project cost is $130 million.
As reported, Cargill, the Ukrainian Sea Ports Authority and M.V. Cargo LLC have signed a tripartite memorandum of intent to realize an investment project at Yuzhny seaport.
The document confirms Cargill’s intention to acquire 51% in a transshipment terminal, which M.V. Cargo stevedoring company will build at Yuzhny seaport. Under the terms of the memorandum, before construction the Ukrainian Sea Ports Authority is to establish a water area on the approach to the terminal with an appropriate level of dredging.
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.
It is planned to launch the terminal in 2017.
