A large Ukrainian grain producer and trader, Nibulon, has begun building a new grain river terminal on the Dnepr river in central Ukraine in a bid to increase exports, the company said on Monday. Earlier this year the company said it would also invest $150 million to build 24 barges to ship grain across Ukraine and the Black Sea region and reduce transport costs.
Nibulon received the first barge last week. It said it planned to build seven silos and river terminals with a total storage capacity of 300,000 tonnes. The capacity could be increased to 600,000 tonnes by July 2010. Nibulon has said its new river fleet and terminals would allow it to ship through the Dnepr about 1.0 million tonnes of grain per year. Nibulon operates a large grain export terminal in Mykolaiyv, close to the Black Sea, and six silos. Ukraine exported a record 24.4 million tonnes of grain in the 2008/09 season but forecast sales could fall to 17-19 million in 2009/10 due to a smaller crop.
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