On June 8, the Kiev economic court took decision to stop realizing the project for construction of the grain terminal at the territory of the Illichivsk Sea Commercial Port (Odessa oblast). The site at the territory of Illichivsk port belongs to the agricultural holding Cargill Ukraine, and is subject for construction of the grain terminal. The court decision transferred the construction site to the insolvent Delta Bank of Mykola Lagun, informed Forbes on June 19.
The judicial act deprived the top-end agricultural company Cargill of the opportunity to realize the project of a grain terminal in Odessa oblast. After the losses of production and elevator capacities in Donetsk oblast, the company will have to radically reconsider its investment policy in Ukraine, said Ruslan Pavlenko, consultant on crisis management of the company Socintel.
It is noted that the judicial act appeared to be some surprise for Cargill, since all circumstances pointed to convincing juridical rightness of the company. Cargill has sent a letter to the Ukrainian authorities, requesting assistance to establish uniform rules and conditions for all investors. According to R.Pavlenko, such judicial decision will affect the public interests, first of all.
The expert noted that the government agencies should focus their attention to each such investment project. Taking into account the conflicting interests of different market players for shipment capacities of Odessa oblast, such judicial act is made for the benefit of Cargill competitors only. Such decisions can not be manually resolved by the courts. So, the Government created clearly unfavorable conditions for investors including Cargill, the expert said.
