KIEV, October 22 (Itar-Tass) - The first stage of Ukraine’s grain terminal has been unveiled in Odessa on the Black Sea coast, the Ukrainian government’s press service told Itar-Tass on Tuesday.
At first, the grain terminal’s capacity will reach 70,000 tonnes. As soon as Odessa-based Brooklyn-Kiev Ltd. completes the project, the complex will have 33 storage facilities with a total capacity of 241,000 tonnes.
Investments into the project total $125 million and its designed grain storage and handling capacity is 4 million tonnes.
“Ukraine is one of the six countries that shapes the global grain market,” Ukrainian Deputy Prime Minister Alexander Vilkul told an inauguration ceremony of the terminal’s first stage. “This year Ukraine will harvest a record high yield of around 60 million tonnes. Experts forecast the growth of gross grain yield to 80 million tonnes within five years, therefore a special focus is placed on increasing throughput capacity of Ukraine’s ports that account for 90% of Ukraine’s bulk agricultural export.”
“The creation of new logistics opportunities will help boost an export potential of the grain pool with participation of Ukraine, Russia and Kazakhstan,” the press service said.
An agreement to draft documents for the creation of the Black Sea Grain Committee of Ukraine, Russia and Kazakhstan was reached during a meeting of the economic cooperation committee of the Russian-Ukrainian interstate commission in Kaluga, western Russia, last week.
“Ukraine should develop relations both with partners in the European Union and in the Customs Union,” Vilkul said.