Sector News

Cargill to invest $100 mln in Ukraine grain terminal

February 25, 2016
Food & Drink

U.S. agriculture giant Cargill will invest $100 million in building a new grain terminal at Ukraine’s Black Sea port of Yuzhny, Ukrainian Prime Minister Arseny Yatseniuk said on Wednesday.

The terminal, near Ukraine’s biggest port city of Odessa, will have an annual loading capacity of 5 million tonnes of grain and other commodities, Andriy Pivovarsky, Ukrainian infrastructure minister, said after a signing ceremony.

The ministry last year said Cargill, one of the world’s largest privately-held corporations, would be able to open the terminal by 2017.

Ukraine is currently able to ship about 35 million tonnes of grain from its sea ports but the government has said it wants to double export loading capacity within the next five years.

Ukraine is likely to export a record 37 million tonnes of grain this season. (Reporting by Pavel Polityuk; Editing by Mark Potter)

Source: Reuters

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