The FINANCIAL — The Ministry of Infrastructure hosted a ceremony of signing a tripartite memorandum of intent to realize the investment project in Sea Commercial Port Yuzhny. The document was signed by Martin Schuldt, CEO of Cargill, Andriy Amelin, Chairman of the State Enterprise Ukrainian Sea Ports Authority, and Oleksandr Primak, Director of the docking company MV Cargo, declared the press-service of the Ministry of Infrastructure of Ukraine on August 17.
According to the announcement, the signed document confirms the plans of Cargill to purchase 51% of a transshipment terminal, which to be built by the stevedoring company MV Cargo in the Yuzhny port. Before beginning of the first line construction, Ukrainian Sea Ports Authority undertakes to establish the appropriate level of bottom dredging in the waters nearby the terminal.
The new terminal will allow to Cargill to realize transshipment of grains, its by-products and other cargoes. The carrying capacity of the first line of terminal will reach 5 mln tonnes. The second line will increase the index by another 2-4 mln tonnes, according to APK Inform.
After signing the memorandum of intent, the parties will continue working out the agreement on cooperation, specifying the terms of project realization and technical parameters, and the level of liability of the parties. The parties plan to conclude the agreement after Cargill acquires a share in the capital of MV Cargo by signing the shareholders’ agreement.
The sum of planned investments totals nearly 130 mln USD. During the year after signing the document, the parties will start realizing the project. The terminal is planned to put in operation in 2017.