Cargill has invested $100 million in the port of Yuzhny.

by Editor • 24.02.2016 • 0 Comments

On February 24, 2016, at a Cabinet meeting, an agreement was signed for a $100 million investment in the port of Yuzhny. The funds for the construction of the new grain terminal were provided by Cargill, a major American company.

Infrastructure Minister Andriy Pivovarsky told the media that the terminal, with a capacity of 5 million tons, would be launched in 2017 and would employ 350 people. The minister noted that similar investment projects could be signed weekly, but Parliament is stalling them because it hasn't adopted Bill 2488a. This bill establishes a procedure for removing state-owned stevedoring companies from the list of strategic ones.

"This way, the Verkhovna Rada would allow for billions of dollars in investment, help create thousands of jobs, and provide additional monetary support for the state budget, leading to higher social standards," Pivovarsky concluded.

As a reminder, the American company Cargill intends to acquire a 51% stake in the new unloading terminal in the port of Yuzhny, which will be built by the stevedoring company MV Cargo.

In topic: Andrey Pivovarsky, Minister of Infrastructure Collapse

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