Cargill to invest $130 mn in building grain terminal in Ukraine

Ukraine's Ministry of Infrastructure has signed a memorandum of intention with US agricultural company Cargill to invest USD 130 million in building a grain terminal in one of Ukraine's largest ports in Yuzhny, Odesa region.

The Memorandum was signed by Cargill CEO Martin Schuldt, chairman of the Administration of Ukraine's Seaports Andriy Amelin and director of docking company MV Cargo Oleksandr Primak.

According to the agreement, Cargill is obliged to acquire 51% of the terminal to be built by MV Cargo. Before construction starts, Ukraine's seaports administration have also pledged to dredge the bottom of the port, as part of the deal.

Once built, the terminal will allow Cargill to ship up to 5 million tonnes of grains and other goods per year, increasing this volume by 2-4 million tonnes going forward.