Nibulon secures $80 million loan

by Holly Demaree-Saddler
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Terminal facility in Hola Prystan Ukraine
Nibulon's terminal facility in Hola Prystan, Ukraine.
Photo courtesy of Nibulon.
 
KIEV, UKRAINE — ING Bank N.V. (ING) and European Bank for Reconstruction and Development (EBRD) will provide a $80 million loan to Nibulon, a Ukrainian grain trading company.

The loan will be used to finance the Nibulon’s working capital needs associated with purchase of commodities in Ukraine and exports to the global market. The three-year loan gives Nibulon access to long-term liquidity and shows the interest of international banks in Nibulon, the company said. 

The loan confirmation comes shortly after Nibulon announced its plan to invest $2 billion in new grain silos and barges in Egypt’s Nile Delta region.

The silos would be built at two sites near the ports of Alexandria and Damietta. Twenty barges, each with a capacity of 2,000 tonnes, would be built to transport grain along the river.

The first phase of the investment, under a recent agreement, would begin in the next two years.

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