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Bunge invests $180m in building of handling complex at Mykolaiv seaport

Bunge invests $180m in building of handling complex at Mykolaiv seaportTransnational company Bunge has invested $180 million in building a handling complex with an oilseed refinery, an oil handling terminal and the expanded grain terminal.

The company said in a press release that the project is one of the largest U.S. investments in the Ukrainian agrarian sector.

Thanks to the operation of the new handling complex launched by Bunge Ukraine exports of Ukrainian-made products and cargo handling at the port would increase by 1 million tonnes.

The capacity of the sunflower oil refinery allows refining 790,000 tonnes of oilseeds a year (2,400 tonnes of sunflower seeds and 1,700 tonnes of soybeans a day).

The company's annual transshipment capacities grew by 1.75 million tonnes of grain, oil cake and oil.

Bunge Ukraine Managing Director Dmytro Horshunov said that the complex continues the company’s strategy aimed at developing infrastructure at Mykolaiv seaport. In 2011 the company built a handling terminal at this port and it expanded Ukraine's exports capacity by 3 million tonnes a year.

"The total cost of the two projects is $280 million. We will continue investing not only in the development of infrastructure and exports capacity of Ukrainian ports, but also in Ukrainian agriculture in general," he said.

Read also: Ukraine's President, govt to resolve problem of exorbitant port fees, access to berths

Ukrainian President Petro Poroshenko at the ribbon-cutting ceremony said that this investment is evidence of improving investment climate in Ukraine.

"The opening of the complex confirms firm confidence of investors in the better future of Ukraine," he said.

The president said that this project would allow increasing purchase prices of agricultural products, currency income and strengthening the Ukrainian currency exchange rate. These projects in Ukraine show that reforms conducted in the country are effective, the head of state said.

Poroshenko thanked Bunge Ukraine for its social projects. The company sent over UAH 1 million to support ATO soldiers in the past 12 months.
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