The European Bank for Reconstruction and Development (EBRD) has granted a $37 million loan for the construction of a grain terminal at the port of Yuzhny in Odesa region, that will have an annual capacity of 5 million tonnes, former Deputy Finance Minister of Ukraine Artem Shevalev wrote on Facebook
.”This project has everything – an active and transparent Ukrainian investor, a large international player in Cargill, government support, the involvement of international financial institutions, environmental audits and energy efficiency,” Shevalev stressed.
”It aims at supporting export-oriented industries and new jobs. This also means the modernization of infrastructure,” he added.
As reported by UNIAN in June, the EBRD announced its intention to disburse a $37 million loan to stevedoring company MV Cargo to finance the construction of a grain terminal at the port of Yuzhny.
It was expected that a similar loan for the project would be allocated by the International Finance Corporation, putting total project costs at $130 million.
A Memorandum of Understanding was signed in August 2015 between senior representatives of Cargill company, the Ukrainian Sea Ports Authority and the management of MV Cargo company. According to the agreements, Cargill company has committed to acquire 51% of the transshipment terminal to be built at the port of Yuzhny by MV Cargo.
In this regard, the Ukrainian Sea Ports Authority will carry out dredging in the port, as provided for in the memorandum.
UNIAN memo. Cargill is one of the world`s largest private companies investing in food production. The company conducts operations in 68 countries around the world. Cargill is engaged in the sale of grain, oil, sugar, cocoa, beef, pork, turkey, and more. In addition, the company is a major producer of agricultural products.
