Turkish company proposes to build a grain terminal in Odesa

Invest in Ukraine: Turkish company to build a grain terminal in Odesa

This article discusses plans of a #Turkish company in relation to #construction of a modern #grain terminal in #Odesa.

Visit our website if you are interested in #doing business in Ukraine or looking for new #investment opportunities.

Molino, a Turkish company established in 1965, proposed to build a modern grain terminal in Odesa, which will allow loading two panamax class cargo ships simultaneously. This will make it possible for a cargo ship to be loaded within one day, rather than in almost one week, which is the current state of affairs at most of the Ukrainian ports. The required territory for implementation of the project is 170 thousand sq. m., the planned investment is USD 150 million.

We note that earlier Cargill and the Administration of Sea Ports of Ukraine successfully negotiated the terms and conditions of construction of the new grain terminal at the sea port of Yuznii (Odesa region), which resulted in signing of the appropriate agreement. Under the terms of the agreement, the Administration of Sea Ports of Ukraine is obliged to construct water area with proper dredging (up to 16 meters) near the terminal. The first facility of the terminal will have an annual loading capacity of 5 million tonnes of grain and other commodities. The second facility will increase loading capacity by 2-4 million tonnes annually. The approximate sum of Cargill’s investment in construction amounts to USD 104 million. Expenses of the Administration of Sea Ports of Ukraine on dredging works will amount to approximately USD 50 million. As specified in the agreement, the first facility of the grain terminal will be constructed by 1 September 2018, while all dredging works shall be completed no later than 1 February 2018.

In addition, China Metallurgical Group Corporation is to open its representative office in Odessa. The primary objective of the office will be looking for investment opportunities in Ukraine and especially in Odessa region, in particular in the area of transportation. China Metallurgical Group Corporation is active from 1965 and consists of more than 500 enterprises and specializes in construction projects in China and abroad. The share capital of China Metallurgical Group Corporation is RMB 1.2 billion.

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