The Cargill company has become the majority (51%) shareholder of the Neptune grain terminal with a design capacity of 5 million tons per year at the Pivdennyi seaport, the CFTS portal reports, citing the Interfax Ukraine news agency.
"The Neptune company is meeting the growing demand for deep-water port infrastructure in Ukraine by giving farmers access to new, distant markets," Cargill said in a statement.
The American company recalled that it signed an agreement on the construction of the terminal, which began operation in 2019, in 2016.
"Neptune is strengthening Cargill’s port infrastructure in the Black Sea region, so we continue to invest in Ukraine’s agricultural sector," Cargill added.
Neptune processes a variety of grains and oilseeds, primarily corn, barley, and wheat. The terminal’s berth has a depth of 16 meters, which allows it to receive large-tonnage vessels. Cargill is an important user of the terminal, exporting a significant part of the products it purchases in Ukraine from the terminal. Neptune also provides services to other customers.
"In short, Cargill had an obligation to enter the project, and we signed up to bring the terminal to Cargill’s standards. Yehor Hrebennikov and I are now practically equal partners with the largest private food corporation in the world," the Neptune terminal’s co-owner Andrii Stavnytser said.