The MV Cargo company has begun pile-driving work at the construction site of the Yuzhny port’s berth No. 25. The future berth will facilitate the operations of the Cargill grain terminal. The new berth will have a length of 385 meters and a depth of 16 meters, the CFTS reports, citing information from the MV Cargo company.

Postpanamax vessels will be able to load at the berth.

"The terminal should begin operation in the spring of 2018. That is our commitment to the investor and creditors. In addition, this date is linked to the beginning of the grain season. MV Cargo is working 100% according to schedule. More than USD 30 million has already been invested in the construction work. Work is being performed around the clock,” MV Cargo’s Development Director Philipp Grushko said.

As the CFTS reported, the International Finance Corporation (IFC) approved provision of a loan of USD 37 million to the MV Cargo company for financing construction of a grain terminal at the Yuzhny seaport on 9 January.

The European Bank Reconstruction and Development (EBRD), which is also involved in the project as a lender, will provide a loan of the same amount.