COFCO, China’s largest food processor and trader, plans to invest $50 million to expand grain and oilseeds handling at Mykolaiv, Ukraine’s second largest port.

COFCO, China’s largest food processor and trader, plans to invest $50 million to expand grain and oilseeds handling at Mykolaiv, Ukraine’s second largest port. By rebuilding two berths and building a unified transshipment complex, COFCO will increase the port’s cargo traffic by 7%, or 2.3 million tons. Danube Shipping-Stevedoring Company, now fully owned by COFCO, outlined the investment plan last week to Mykolaiv port, rail and Seaport Administration officials, according to the Center for Transportation Strategies.