Ziyavudin Magomedov’s Summa group and the Ochakiv fish cannery plan to build two sea terminals (a container terminal and a grain terminal) on the territory of the cannery in the Nikolayev region. The Vedomosti newspaper reported this, citing sources.

The capacity of the grain terminal will reach 5 million tons per year (possibly increasing to 10 million tons) and the capacity of the container terminal 250,000 TEU (possibly increasing to 500,000 TEU). The volume of investment in both projects will be about USD 300 million.

This will be the Summa group’s first asset in Ukraine, one of the newspaper’s sources said. The Forbes publication previously wrote that Magomedov’s group planned to create a grain trader. It is unclear whether Summa succeeded in doing this. The Summa group owns 49% of the United Grain Company (UGC), which engages in production of grain. In addition, Summa is a co-owner of the Novorossiysk port, which includes container and grain terminals and is a rival to Ukrainian terminals.