KYIV, UKRAINE — Cargill announced it has become the majority shareholder (51%) of the Neptune joint venture, a deep-water grain terminal located in the port of Pivdenny in the Black Sea.
Cargill first signed an agreement with brothers Andriy Stavnitser and Yegor Hrebennikov on the construction of the terminal in 2016. The terminal was built by MV Cargo and began operating in 2019.
The grain terminal has capacity of 5 million tonnes per year and can handle various types of corn, wheat, barley cereals and oilseeds. Depth at the terminal is 16 meters, allowing the site to take on large vessels.
“Investing in Neptune will strengthen Cargill’s resources for a major mission — to provide food for the world's growing population by delivering agricultural products to the countries most in need,” said Philippa Perser, Cargill’s president of agriculture and supply in Europe, in the Middle East and Africa. “Neptune is strengthening Cargill’s port infrastructure in the Black Sea region, so we continue to invest in Ukraine’s agricultural sector.”
Stavnitzer said the partnership with Cargill has exposed Neptune to global markets and helped provide customers with world-class service. In June, Stavnitzer said the terminal has received 132 vessels and processed more than 6.6 million tons of grain over the past three years.
“The key mission of our terminal is to give every Ukrainian farmer the opportunity to export their products to the largest markets and increase their added value,” he said.
As a majority shareholder, Cargill said it will lead the strategic development of the Neptune terminal.