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The European Bank for Reconstruction and Development will grant a loan of 60 million USD for construction and development of a new grain transfer terminal at Odessa Commercial Sea Port. The project will be performed by LLC Brooklyn-Kiev, one of the leading port’s stevedores. The new terminal will allow to handle around 4.5 million tons of grain annually, the Information-Analytical Bulletin of the cabinet of Ministers of Ukraine informs.
Also, the project is supported by a major global commodity trader Louis Dreyfus Commodities. It intends to invest another 43.8 million USD in the project. The two companies are experienced in working with the Odessa port infrastructure. On Oct. 17, 2013 the trader and Brooklyn-Kiev signed an agreement on joint development of the grain terminal. In particular, they plan to build up the terminal capacity to 240,000 tons by August 2014.
It was previously reported that the State Enterprise Odessa Commercial Sea Port intended to invest 30 million USD of own funds in the project.
Currently the terminal capacity is 70,000 tons. It is planned to increase the terminal capacity to 33 storages with total capacity 241,000 in three phases. The terminal will allow to receive Panamax class ships carrying up to 60,000 tons of cargo. The terminal will be equipped with a berth 254 m length and 13.5 m deep.
According to experts, new investment shows that the policy of the government to implement the Strategy of sea ports development till 2038 shows a positive results. As expected, investment is coming, the modernization process goes on.