Information for fruit and vegetables business in CIS
Joint project to be launched by Odessa port and Malaysian company for import and re-export of palmoil
On July 15, in the course of official visit of Malaysian governmental delegation headed by Prime Minister of the country to Ukraine, an agreement was signed about establishment of joint venture between Odessa port and Malaysian company JM Ventures Sdn Bhd for transshipment of palm oil, SeaNews agency informed.
A new specialised facility for transhipment of tropical oils with 25,000 tonne monthly capacity is involved in the project from Ukrainian side. The Malaysian party will provide import of the product to Ukraine, with its subsequent re-export to Rotterdam and distribution to consumers worldwide.
According to the agreement, the Malaysian party is to invest into the project $10 million, for further development of the shipping facility in Odessa port.