POSCO Daewoo Buys Majority Stake in Ukrainian Grain Terminal

Image Courtesy: Pixabay (Pixabay License)

South Korea’s POSCO Daewoo has entered into an agreement with Ukraine’s logistics company OREXIM to jointly develop and manage a grain terminal at Mykolayiv Sea Port.

As agreed between the two sides, POSCO Daewoo will take a 75% share in the grain terminal which is to be completed and commissioned by July 2019.

The terminal has a storage capacity of over 140 thousand tones and is based at the Mykolayiv Milling Complex on the Black Sea. It is expected to have a capacity of 2.5 million tons a year.

A stake in the terminal would improve South Korea’s food security, POSCO Daewoo said, adding that, with the deal, the company would be able to control the logistics through the purchase, inspection, storage and shipment of Ukrainian production grain, reduce the risk and enable efficient inventory management.

In addition to grain terminals, Orexim Group operates two logistics firms and is the country’s largest sunflower oil exporter.

WMN Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

Defence Safety Conference 2019

The Defence Safety Conference returns to London this October as the only event solely dedicated to enhancing safety across all aspects of defence.

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

3rd MarSat Workshop

The MARSAT project wants to operationalise and standardise EO products and aims to develop…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >