Ukraine. Posco International and Orexim opened grain terminal in Mykolaiv

Posco International and Orexim group opened a grain terminal in Mykolaiv on 24 September 2019, reports UkrAgroConsult.

One-time storage capacity of the terminal built on the basis of the Mykolaiv Milling Works Private Limited Company is more than 140 thousand tons. Terminal is equipped with a gallery for transporting cargo to quay No.10 of Mykolaiv sea port with an operating capacity of 1 thousand tons per hour for further shipment to sea vessels by loading machine.

The transport gallery used for shipping is a closed-type gallery excluding possibility of dust emissions into the atmosphere in compliance with the highest environmental norms and standards.

The transshipment complex provides services for processing not only grain, but also other types of cargo using various types of unloading and loading to be carried out in various ways.

In February 2019, Posco and Orexim entered into a purchase and sale agreement of the grain terminal to be constructed on the basis of Mykolaiv Milling Works Private Limited Company. Following completion of obligations, the Korean company’s share was 75%. Owing to the new terminal Posco intends to increase grain exports from Ukraine to 3 million tons per year. It is also planned to create their own fleet of railway wagons.

In February 2018, Orexim attracted a loan of the Black Sea Trade and Development Bank in the amount of EUR 31 million for reconstruction and modernization of Mykolaiv Milling Works. The group procured Mykolaiv Milling Works in 2016.

Posco International (headquarters – Seoul) is one of the largest Korean trading corporations, trading subdivision of the South Korean steel conglomerate POSCO. It develops business in three main segments: international trade, development of raw materials extraction and project management.

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