OREANDA-NEWS. August 18, 2015. The Ministry of Infrastructure of Ukraine hosted a ceremony of signing a tripartite Memorandum of intent to implement an investment project in the Sea Commercial Port of Yuzhny. The document was inked by CEO of Cargill, Chairman of the State Enterprise Ukrainian Sea Ports Authority and Director of MV Cargo company.

"Ukraine has a strong potential in the agricultural sector, which will only grow in the near future”, said Cargill CEO Martin Shuldt. “To increase the capacity to handle cargo, Cargill needs to extend its infrastructure. The construction of a terminal in the Port of Yuzhny will allow us to ship up to 70% of Ukrainian grain export".

By signing the Memo Cargill company confirms their intention to purchase 51% of a transhipment terminal which is to be built by a stevedoring company MV Cargo in the Yuzhny Port of Odesa city.

The amount of investment makes up around USD 130 million. Throughout a year after signing the document the contracting parties are to commence implementation of the project. The terminal is planned to put in operation in 2017.