IFC Supports Construction of New Yuzhny Terminal

Port of Yuzhny, Image source: USPA

IFC – International Finance Corporation, a member of the World Bank Group, is providing a $37 million loan to MV Cargo to support the construction of a new grain terminal at the Black Sea Port of Yuzhny.

IFC’s financing will allow the company to build a terminal capable of handling up to 5 million tons of grain annually.

Other partners in the project include Cargill and the European Bank for Reconstruction and Development. The total project costs are estimated at about $150 million.

“We have already started the construction works at the Yuzhny port. Our plan is to have the new grain terminal operational by spring 2018,” said Andrii Stavnitzer, co-owner of MV Cargo.

“The works include the development of rail infrastructure and dredging works. The deep water port capacities are essential to boost Ukrainian grain exports further. Actually, it is one of the largest recent investments in Ukraine.”

IFC is a leading investor in Ukraine’s farming industry and has committed about $845 million in the last six years to support projects throughout the sector.

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3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

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