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US farming company Cargill helps boost Ukraine exports

Ukraine farmer Image copyright Getty Images
Image caption An investment from US firm Cargill will help boost Ukraine's grain exports

US agriculture firm, Cargill has announced a $100m (£71.5m) investment in a Ukrainian port.

Under a deal with Ukraine's M.V. Cargo, the money will be used to build a grain terminal on the Black Sea that will boost agricultural exports.

The terminal will allow Ukrainian farmers to export an additional five million tons of grain.

Overseas companies have been reluctant to invest in Ukraine because of its ongoing struggle with Russia.

Ukraine has been fighting pro-Russian separatists in the eastern part of the country and working to root out corruption that has made investors nervous.

Prime Minister, Arseniy Yatsenyuk, said the deal was a first step in getting foreign investors to see the country as a "truly reliable and good place for making investments".

"Ukraine is already one of the world's great agricultural producers, but it should be an agricultural superpower," said US ambassador to Ukraine, Geoffrey Pyatt.

The new terminal is scheduled to be completed by the spring of 2018.

Ukraine expects to export a record 37 million tons of grain between July 2015 and June 2016.

Cargill is the largest privately held company in the US.

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