State Enterprise Ukrainian Sea Ports Authority (USPA) and MV Cargo LLC have signed an agreement on the implementation of two partnership projects in relation of the construction of a terminal in the Port of Yuzhny.
Under the terms of the agreement MV Cargo LLC, acting as a developer, will undertake the construction of a specialized grain terminal as well as a berth №25 in the sea port of Yuzhny. In the first phase of the project the capacity of the terminal will amount up to 5 million tons and the second phase provides the increase by another 2-4 million tons.
In turn, USPA ensures navigable operational water area at the berth №25 as well as the approaching channel to the future grain terminal. Depths of the waters and the approaching channel will be dredged down to 16 meters.
The estimated investment in the construction of a grain terminal will amount to $104 million. USPA invests $50 million for dredging works.
Feasibility study of the project for advanced depths in the Port of Yuzhny is already submitted for endorsement in core ministries.
MV Cargo LLC grain terminal completion is scheduled for 1 September 2018. In turn, USPA agrees to finish the dredging works before 1 February 2018.