The construction of a grain terminal of Cargill and MV Cargo with a capacity of 5 million tonnes of grain a year in Yuzhny port, whose cost is estimated at $150 million, has reached the middle and will be fully completed in spring 2018, MV Cargo has told Interfax-Ukraine.

The company noted both stages of work are half completed: dredging at the future berth, which is carried out by China's CHEC Corporation on the order of the Ukrainian Sea Ports Authority, and the construction of the ground part.

According to CHEC, it is ahead of schedule by more than 25%: some 2 million cubic meters of soil has been pulled out and now grab dredgers are working the in water area, which pull out an average of 20,000 cubic meters per day from the bottom.

MV Cargo said two covered warehouses with a capacity of 80,000 tonnes and 14 silos with a total capacity of 210,000 tonnes are currently being built on a site of 28 hectares.

As reported, Cargill (the United States), the Ukrainian Sea Ports Authority and MV Cargo in August 2015 signed a tripartite memorandum of intent to implement the investment project in Yuzhny port. Its launch was preliminarily scheduled for 2017.