The global grain giant Cargill plans to invest 600 million to 660 million Russian rubles ($9.5 million to $10.5 million) in reconstruction of grain terminal, reports UkrAgroConsult. The upgrade will help to increase the capacity of the existing terminal by 50% to 1 MMT per year. According to UkrAgroConsult, it is planned to extend the quay wall from existing 142 to 314 linear meters and build a 20 KMT silo. This year, it is planned to prepare a feasibility study for the project and undergo an examination. The beginning of the construction work is scheduled for 2019.
UkrAgroConsult also reports that the grain terminal, constructed by M.V.Cargo in Yuzhny port, is 80% ready. The company reported that in spring it implemented the first phase, which included the construction of railcars unloading station, trucks unloading station, a warehouse for 80 KMT of grain and supporting infrastructure. In February 2016, Cargill and M.V. Cargo, operating in Yuzhny port, signed an investment agreement, according to which the company decided to invest USD 100 million in a grain terminal construction. The parties formalized their intentions by signing an agreement on the acquisition by Cargill of a 51% stake of M.V. Cargo.