Ukraine’s Prime Minister Arseniy Yatsenyuk has presided over the signing of an agreement with US company, Cargill to construct a grain terminal at the port of Yuzhhy in the Odesa region of the country. 

Yatsenyuk congratulated all parties, adding that the deal was evidence of a real partnership between Ukraine and the United States.

The US ambassador to Ukraine Geoffrey Pyatt, said the signing of the agreement demonstrated trust and confidence in the government. He added that the grain terminal was discussed at the US-Ukraine Business Forum with US Vice President Joe Biden last year.

The deal is expected to be worth $100 million, $30 million less than last year’s original estimate. It will aid the development of Ukraine’s export capabilities, specifically within the agricultural sector.

Cargill is one of the world’s largest food production investors in the world. The Ukrainian companies involved in the project include Ukrainian Sea Ports Authority and MB Cargo.