Cargill, MV Cargo to begin final phase of terminal project

by Eric Schroeder
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Ukraine
 
KIEV, UKRAINE — Cargill and MV Cargo are set to begin the final phase of construction on a grain terminal in Yuzhne, Ukraine.

Cargill and MV Cargo first agreed to collaborate on the project back in August 2015. The terminal is expected to feature 14 silos and have enough capacity to handle 5 million tonnes of grain per year. Additional features of the terminal include the capability of handling up to 790 rail cars per day.

The companies originally said their investment in the facility would be around $100 million, a total that has since grown to about $150 million. International Finance Corporation (IFC), a member of the World Bank Group, in April 2017 agreed to provide a $37 million loan to MV Cargo to support the construction of the new grain terminal. The new terminal is expected to help Ukraine to boost its agricultural exports and contribute to global food security, according to the IFC.

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