The Ukrlandfarming agricultural holding intends to begin construction of a port elevator in the Odessa region in 2015. The agricultural holding’s Deputy General Director Ihor Petrashko announced this to reporters, the Delo publication reports, citing Ukrainian News.

"We will begin construction next year if circumstances are positive,” he said.

According Petrashko, construction work has not yet started because of a shortage of funds.

He added that the company is currently in talks with several investors. This area of development is one of the priorities for next year.

As reported, Ukrlandfarming’s Board Chairman Oleh Bakhmatiuk has said that a memorandum on construction of a port elevator in the Odessa region has already been signed with the authorities.

As reported, Bakhmatiuk’s Ukrlandfarming and the Portinvest company, which manages the port operations of businessman Rinat Akhmetov's SCM group, plan to jointly implement a project at the Yuzhny port. A multifunctional agricultural hub with a transshipment capacity of up to 10 million tons of grain and more than 260,000 tons of oil per year was planned for construction.