The head of the Orexim Group, Yurii Budnik, disclosed some details of a deal to sell a 75% stake in a terminal at the Mykolaiv seaport to Posco Daewoo, the CFTS portal reports, citing the elevatorist publication. According to him, this will result in investment of billions of hryvnia and cation of hundreds of jobs at the seaport.
“We finally signed an agreement with Posco Daewoo, one of the largest companies in South Korea, on February 12. I have no right to disclose the details of the agreement, but it involves billions [of hryvnia] and hundreds of additional jobs,” said Budnik.
According to the Mykolaiv-based businessman, the work on this this agreement lasted two years.
As the CFTS portal reported earlier, Posco Daewoo has acquired a 75% stake in the Mykolaiv grain terminal, which is owned by the Orexim Group. Construction of the terminal is scheduled for completion this summer. According to Posco Daewoo, gaining control of the grain terminal will allow the South Korean company to organize export of Ukrainian grain and effectively manage its reserves. The deal will also boost South Korea’s food security. The country is largely dependent on grain imports. It meets only 1% of its own corn and wheat needs. It imported 10 million tons of corn and 5 million tons of wheat in 2017 alone.