Global agribusiness giant Cargill has increased its stake in its Ukrainian grain terminal joint venture Neptune, World Grain reported on 20 July.
Cargill was now the majority shareholder (51%) of the joint venture in the port of Pivdenny in the Black Sea, according to the report.
Capable of handling various types of oilseeds, corn, barley cereals and wheat, the 5M tonnes/year terminal became operational in 2019, World Grain wrote.
“Neptune is strengthening Cargill’s port infrastructure in the Black Sea region, so we continue to invest in Ukraine’s agricultural sector,” Cargill’s president of agriculture and supply in Europe, the Middle East and Africa, Philippa Perser said.
Cargill first signed an agreement with brothers Andriy Stavnitser and Yegor Hrebennikov on the construction of the terminal in 2016, the report said.
The partnership with Cargill had exposed Neptune to global markets, Stavnitzer was quoted as saying, with the terminal receiving 132 vessels and processing more than 6.6M tonnes of grain over the past three years.
As a majority shareholder, Cargill said it would lead the strategic development of the Neptune terminal, World Grain wrote.