Cargill Inc. is investing $100 million to build a new terminal at Yuzhny port in the Odesa region of Ukraine, according to an announcement by Ukrainian Prime Minster, Arseniy Yatseniuk.
After Cargill had hinted in early July that the company was considering the possibility of building a deep-water port with M.V. Cargo at Yuzhny, a memorandum for the project has been signed, and a terminal with the handling capacity of 4 million tons will indeed be constructed.
The port will be another facet of Cargill’s long-term strategic plan in recent years for the development of its grain and oilseed business in the Black Sea region, and could evolve to become a joint project for Cargill with the Constanta port in Romania or the Novorossiysk ports in Russia.
Lynda Kiernan is Editor with HighQuest Group Media and of the Oilseed & Grain News. If you would like to submit a contribution for consideration, please contact Ms. Kiernan at email@example.com.