USPA and Bunge signed the memorandum of cooperation

The memorandum of cooperation was signed between the Ukrainian Sea Ports Authority (USPA) and Bunge today in Kiev.

This was reported by Elevatorist.com.

The event was attended by Volodymyr Omelyan, the Minister of Infrastructure of Ukraine, Ms.Marie Yovanovitch, Ambassador Extraordinary and Plenipotentiary of the US to Ukraine, Raivis Veckagans, Acting CEO at Ukrainian Seaports Authority, and Tommy Jensen, CEO of Bunge Europe, Middle East and Africa.

The parties agreed that Bunge will invest $30 million to develop the terminal in Nikolaev, and the USPA, for its part, takes care of maintaining nominal depths and anchorage in the port water area.

The signing ceremony took place in the American Chamber of Commerce.

"Ukraine needs investment more than ever. And the members of the American Chamber of Commerce are working hard to find new opportunities," said Andy Hunder, the representative of the American Chamber of Commerce.

According to Marie Yovanovitch, Ambassador Extraordinary and Plenipotentiary of the US to Ukraine, Bunge has already invested $280 million in the sea terminal in Nikolaev. Marie Yovanovitch thanked foreign investors from the USPA and the American Chamber of Commerce for their support.

"With such constant support, Ukraine will become even more attractive for foreign investors," the Ambassador said.

Raivis Veckagans, Acting CEO at Ukrainian Seaports Authority, noted that this project will give an opportunity to create new workplaces.

"Not only Bunge will take advantage of it. This project will not only increase the revenues for the state and export of Ukrainian products with the added value but will also create new jobs," said Raivis Veckagans.

According to Tommy Jensen, CEO of Bunge Europe, Middle East and Africa, the signing of this memorandum puts the company in new obligations.

"Last year, together with Petro Poroshenko, the President of Ukraine, we attended the solemn opening ceremony of our transshipment complex in Nikolaev. We are very proud of this production facility. By signing this memorandum, our company undertakes the obligation to provide over 400 thousand tons of additional cargo traffic via the terminal by the end of 2018," said Tommy Jensen.

According to him, the project to increase the production capacity of the terminal will be presented in October this year.