Port of Yuzhny Grain Terminal

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The Project entails the construction and operation of a new, greenfield terminal at Port of Yuzhny, Odessa region. The total projected annual throughput capacity is 5.0 million tons. MV Cargo LLC is developing the terminal. The Project will be developed by Mr. Andrei Stavnitser and Mr. Egor Grebennikov, co-owners of TransInvestService Group, the largest Ukrainian private port complex. Upon completion of the Project’s facilities, Cargill Inc., a leading global agricultural commodities producer and trader is expected to purchase a 51% stake in the Company and become the key customer of the Terminal. Hence, recorded here as majority owner of the port facility. The remaining stake (49%) has been reported to be held by the government of Ukraine. The total cost of the project is expected to be approximately $150 million and is being funded by 49:51 debt to equity. Debt financing was provided by two multilateral financial institutions in equal split - EBRD and IFC each provided $37 million. On January 9, 2017 the IFC approved the $37 million loan and then signed the agreement on March 29 the same year. Funds have been invested on August 1, 2017. As reported by sources, EBRD approved the loan in February and signed the agreement in May 2017. Hence, for the purpose of this database, FC was estimated at 29 March 2017. As on Aprilthe progress of the works stood at around 40%. The terminal is expected to be finished in 2018. https://disclosures.ifc.org/#/projectDetail/SII/37312 https://ijglobal.com/data/transaction/34985/port-of-yuzhny-grain-terminal The Project will be developed by Mr. Andrei Stavnitser and Mr. Egor Grebennikov, co-owners of TransInvestService Group, the largest Ukrainian private port complex. Upon completion of the Project’s facilities, Cargill Inc., a leading global agricultural commodities producer and trader is expected to purchase a 51% stake in the Company and become the key customer of the Terminal. The remaining stake is reported by IJGlobal to be held by the Government - 51% private participation.