COFCO to invest USD 30 million in development of Mykolaiv port

13 December 20182 min reading

COFCO, China’s biggest foodstuff conglomerate, is ready to invest up to USD 30 million in a berth at the Mykolaiv seaport and river logistics. The Ukrainian Ministry of Infrastructure announced this in a statement after a Ukrainian delegation’s visit to China for talks, the CFTS portal reports. Deputy Infrastructure Minister Viktor Dovhan represented the Ukrainian Ministry of Infrastructure at meetings in Beijing from November 8 to 9. The Chinese state corporation’s investment plans were announced as part of the implementation of China’s “One Belt, One Road” strategy. The COFCO Agri terminal was opened at the Mykolaiv seaport in 2016. The Chinese corporation invested USD 75 million in this project. The terminal’s capacity for transshipment of agricultural products is 2.5 million tons per year. It is capable of storing 136,000 tons of grain. Consultants at CFTS Consulting were recruited to help select a land plot for construction of the grain terminal. As the CFTS reported earlier, it was announced in in Beijing during the period of November 8-9 that China was planning, among other things, investment projects involving creation of multimodal cargo terminals on the border with the European Union on Ukrainian territory for handling Chinese goods on transit to Western Europe. CTS

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