EBRD in Discussions to Provide $40 Million for Grain Terminal in Odesa
The European Bank of Reconstruction and Development (EBRD) may commit $40 million to GN Terminal Enterprises Ltd., a subsidiary of GNT Group, to finance the expansion of the existing grain terminal at the Odesa port, according to the bank.
The Serseris Grain Terminal project, a joint project between Serseris Holdings Ltd., a subsidiary of CHS Europe SA, part of CHS Inc., and GNT Group, would entail expanding the terminal’s capacity and its storage facilities at a cost of $69 million.
CHS Inc. announced in 2009 that it was embarking on investing in a joint project with GN Terminals for the establishment of a grain export terminal in Odesa on the Black Sea with a capacity of 2 million tons per year.
The EBRD announced that the possible investment will be discussed on October 14.