The Odesa Port Authority and the Brooklyn-Kiev company have signed a memorandum on completion of construction of a grain terminal in the Odesa seaport.

The memorandum was signed at Ukrainian Ports Forum 2019 in Odesa, the CFTS portal reports, citing the Interfax Ukraine news agency.

Brooklyn-Kiev’s General Director and founder Yurii Hubankov signed the memorandum on behalf of the company.

“On behalf of Brooklyn-Kiev and the Louis Dreyfus Company, I want to thank the Ministry of Infrastructure, the Ukrainian Seaports Authority, and the management of the Odesa Port Authority... I am confident that that we will launch the project in September, giving the Odesa seaport an additional 3 million tons of transshipment capacity," he said.

The Odesa Port Authority’s head Ihor Tkachuk signed the memorandum on behalf of the Ukrainian Seaports Authority (USPA).

"This project was started back in 2008, but was suspended for technical reasons. However, we have been able to move it forward thanks to the new leadership of the USPA and the clear position of the Ministry of Infrastructure. It is now in the final stage of completion. With this memorandum, we confirm our plans to complete its construction on time. Then, we plan to continue dredging and improving the port’s infrastructure,” he said.

The Louis Dreyfus Company is a leading merchant and processor of agricultural goods, accounting for approximately 10% of the world’s agricultural product trade flows. The company operates in 100 countries.

The Louis Dreyfus Company has been operating in Ukraine since 1998. It is one of the largest traders and exporters of agricultural products from Ukraine. It began building a grain transshipment complex in the Odesa seaport in 2012, together with Brooklyn-Kiev LLC. The total investment in the project is USD 104 million.

As the CFTS portal reported, the Louis Dreyfus multimodal grain terminal will be launched in the Odesa seaport in in 2019.