The BSTDB financing will support the modernization and expansion of the Group's Mykolaiv Grain Terminal to increase its storage capacity from 60,000 mts to 150,000 mts. The projected grains throughput capacity of the Grain Terminal is about 2 million mts.
The increased capacity of the terminal will facilitate exports of grains from Ukraine, providing Ukrainian agribusiness companies, especially small and medium companies, with a better access to the international markets. The operation will also benefit maritime transport development and regional trade as considerable volumes of grain are exported to the countries of the Black Sea Region.
"Our loan to Orexim Group is another evidence of the Bank's increased efforts aimed at supporting the real sector in Ukraine. Strengthening the agricultural sector will contribute to sustainable economic development and will help improve Ukraine's export competitiveness and the vital hard currency revenues," said Ihsan Ugur Delikanli, BSTDB President after the signing of the loan agreement.
"The loan provided by BSTDB to Orexim Group is another evidence of the strength of Ukrainian agriculture sector and its global importance. The Grain Terminal and its construction will create several hundred jobs and future inflows will significantly benefit both regional and countrywide development. Orexim Group highly values the Bank's trust and future fruitful cooperation," said Sergii Prysiazhniuk, Orexim CEO after the signing of the loan agreement.
"First and foremost, I would like to say simple and well-deserved grateful words to all participants of the deal. I greatly appreciate your indispensable contribution to the process which led to the successful completion on this deal. I am strongly assured that this achievement and similar are going to streamline the nearest business prosperity in Ukraine. This deal is a great start of the year for Capital Times. Keeping the same enthusiasm, initiative and creativity, our team will celebrate many victories this year", said Sergey Goncharevich, Managing Partner of Capital Times Investment Company.
About the Orexim Group:
Orexim Group is dynamic and successful holding of Ukrainian and global markets in following sectors: port operations (bulk and liquid cargoes in Mykolaiv sea port), trading (sunflower oil and grain export, and other commodities), and supporting services (forwarding, logistics services, etc.). Since 2010 it operates with a brand new vegetable oil terminal "Everi", which is currently #1 in Ukraine and over the world in terms of sunflower oil transshipment.
About the Black Sea Trade and Development Bank (BSTDB):
BSTDB is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. The Bank supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. BSTDB is rated long-term "A-" by Standard and Poor's and "A2" by Moody's.