An agreement on investment project in the Port of Yuzhny inked with Cargill

Ukrainian Sea Port Authority and M.V. Cargo have signed an agreement on building a grain terminal at theYuzhny seaport.

The document was inked by Sea Port Authority Director Andrii Amelin and M.V. Cargo Head Oleksandr Prymak. Director General of Cargill AT LLC Martin Schuldt, Director General of TIS LLC Andrii Stavnitser, Head of the Yuzhny Port's Administration Maksym Shyrokov, Grain and Oilseeds Business Head at Cargill Europe AndreasRickmers, and Vice President of Cargill International Rodger Janson participated in the signing ceremony.

In the framework of the deal M.V. Cargo acts as a developer and assumes liabilities to build a specialized marine grain handling terminal as well as a berth 25 at the Port of Yuzhny. A capacity of the first phase of the terminal will make up about 5 million tonnes, while the second phase will enable to boost the capacity by two to four million tonnes.

In turn, the Sea Port Authority will ensure the navigable operating area of berth 25 and the navigable canal leading to berth 25 of the Port.

The approximate cost of investment in building the grain terminal makes up about US $104 million. Profile ministries are agreeing the project feasibility study.

M.V. Cargo plans to accomplish building of the grain terminal before September 1, 2018. The Sea Port Authority is responsible for completing dredging works before February 1, 2018.

Original