South Korean POSCO International plans to resume operation of its grain terminal in Mykolaiv region
South Korean corporation POSCO International plans to resume full operation of its grain terminal in Mykolaiv region, the press service of the Ministry of Economy, Environment and Agriculture reported following the meeting of Minister Oleksiy Sobolev with business representatives during a working trip to Odesa.
The ministry specified that the parties discussed the prospects for developing infrastructure for storing grain and vegetable products (storage facilities and cold storage).
"The Ukrainian side emphasized the need to develop mechanisms to protect businesses in wartime and reduce the cost of marine insurance. At the same time, the government is working on a support program to restore trade routes in Mykolaiv region," the report emphasizes.
The Korean delegation noted the cooperation of the Ukrainian government with the Economic Development Cooperation Fund (EDCF). Through the EDCF program and KEXIM Bank, Korean companies have the opportunity to join the transformational reconstruction of Ukraine. In particular, POSCO, which has experience in implementing infrastructure projects abroad.
Among the company's priorities is the construction of a thermal power plant in Odesa using RDF fuel (Refuse-derived fuel - fuel produced from waste). Consultations have already been held with the city administration on environmental and energy efficiency issues. The project to build a thermal power plant in Odesa was previously included in the list of priorities.
"The project in Odesa is very important for our ministry, because it combines an investment component and an environmental component. The initiative is aimed at protecting the environment and introducing modern technologies to reduce emissions. In the future, such a practice can be extended to other regions of Ukraine. The Recovery Agency is submitting this project to the unified project portfolio of the state, its expert assessment and further approval by the Strategic Investment Council are expected," Sobolev noted.
