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Posco and Orexim opened grain terminal in Mykolaiv port

25 September 2019, 11:43

Posco and Orexim opened grain terminal in Mykolaiv port

The capacity of one-time storage of terminal exceeds 140 thousand tons. Photo: orexim.com.ua

The Korean Posco International and the Ukrainian Orexim Group opened a grain terminal in Mykolaiv sea port on Tuesday. This was reported by press service of Mykolaiv port.

The opening was attended by the Mayor of Mykolaiv Oleksandr Senkevich, the Head of Mykolaiv Regional State Administration Oleksandr Stadnik, the people's deputy of Ukraine of the VIII convocation Borys Kozyr, the shareholder of Orexim Yuriy Budnik as well as representatives of the Korean Posco International which solemnly cut the ribbon and thereby launched the new grain terminal.

In their congratulatory speeches, the guests noted that the new grain terminal would serve as a further basis for grain business of Ukraine as a world producer and exporter of grain crops as well as provide 200 highly paid workplaces to Mykolaiv city and would replenish the state and local budgets with taxes.

One-time storage capacity of the terminal built on the basis of the Mykolaiv Milling Works Private Limited Company is more than 140 thousand tons. Terminal is equipped with a gallery for transporting cargo to quay No.10 of Mykolaiv sea port with an operating capacity of 1 thousand tons per hour for further shipment to sea vessels by loading machine. The transport gallery used for shipping is a closed-type gallery excluding possibility of dust emissions into the atmosphere in compliance with the highest environmental norms and standards.

The transshipment complex provides services for processing not only grain, but also other types of cargo using various types of unloading and loading to be carried out in various ways.

In July 2019, Posco delegation inspected construction of the transport gallery for grain terminal. Thereafter, an extended meeting of the management of administration of Mykolaiv sea port, representatives of Posco and Orexim Group took place. Investors discussed the possibility of cooperation at other investment sites of the port, in particular, at quays Nos.14 (A), 16 and 17.

In February 2019, Posco and Orexim entered into a purchase and sale agreement of the grain terminal to be constructed on the basis of Mykolaiv Milling Works Private Limited Company. Following completion of obligations, the Korean company’s share was 75%. Owing to the new terminal Posco intends to increase grain exports from Ukraine to 3 million tons per year. It is also planned to create their own fleet of railway wagons.

In February 2018, Orexim attracted a loan of the Black Sea Trade and Development Bank in the amount of EUR 31 million for reconstruction and modernization of Mykolaiv Milling Works. The group procured Mykolaiv Milling Works in 2016.

Posco International (headquarters - Seoul) is one of the largest Korean trading corporations, trading subdivision of the South Korean steel conglomerate POSCO. It develops business in three main segments: international trade, development of raw materials extraction and project management. In March 2019, Posco Daewoo Corporation approved the new title of the corporation - Posco International.

Orexim Group is engaged in export of agricultural products, provides port and logistics services. The main assets of the group are the Everi marine transshipment terminal (transshipment of vegetable oils) in the Mykolaiv port and Mykolaiv Milling Works. Since its operation in 2004, the group has invested in the development of more than USD 100 million.

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