Singapore, U.S. investors to inject $300 mln in construction of vegetable oil refineries in Odesa region

A respective trilateral memorandum was signed by Chairman of Odesa Regional Administration Maksym Stepanov, Director of Singapore-based Delta Wilmar Andrey Romantsov, and Director of the U.S.-based Grain Agro Invest Sergey Tormosa on October 10.

Two investment projects worth $150 million each will be launched in 2017, according to the agreements between the administration and investors.

Read alsoChina receives the first contract for dredging in "Yuzhny"In particular, Delta Wilmar will build a new oil extraction plant with a total annual capacity of over 600,000 tonnes, as well as a berth for transshipment of oil and oilseed meal with the annual capacity of up to 3 million tonnes. The project is expected to create about 200 new jobs, as well as about UAH 500 million ($18.8 million) in revenue to the budget annually.

Grain Argo Invest is to build a grain storage and transshipment complex, as well as an oil extraction plant. The annual capacity of the new berth will be up to 3 million tonnes. The project will provide about 300 new jobs.

UNIAN memo. Delta Wilmar represents one of the world's largest processors of agricultural products, operating in 50 countries on five continents. It has over 500 plants worldwide. The company's shares are listed on the Singapore Stock Exchange.