EBRD could provide $40 mln to expand grain terminal in Odesa
The European Bank for Reconstruction and Development (EBRD) could provide up to $40 million to GN Terminal Enterprises Ltd. (Cyprus), which belongs to the GNT group, to finance the expansion of the existing grain terminal at Odesa port, the bank said on Monday.
The bank said that its board will discuss the issue on October 14.
The total cost of the Serseris Grain Terminal project includes the expansion of the terminal's capacity and its storage facilities, and is assessed at $69 million.
Serseris Holdings Limited (Cyprus) is a subsidiary of CHS Europe SA, which is part of U.S. CHS Inc.
CHS Inc. in spring 2009 said that the corporation had started investing in a joint project with GN Terminals (Odesa) on the creation of an export grain terminal in Ukraine on the Black Sea coast in Odesa with a capacity of 2 million tonnes a year.