“Nibulon” completed the first stage of construction of a new terminal on the Danube

“Nibulon” LLC completed the first stage of construction of a new grain terminal in Izmail, Odesa region.

Construction was started during the lifetime of the company’s founder, Oleksiy Vadaturskyi, the company’s director general, Andrii Vadaturskyi, said. Currently, it is known about the completion of the first stage of the construction of the new terminal, but the technical details of the new enterprise have not been announced.

“I am happy to announce that we have finished the first stage of the construction of the new terminal of the “Nibulon” company in Izmail, Odesa region, which was started by my  father. This will help us mitigate the disruption to our established export routes. At the Conference on the Restoration of Ukraine in Lugano in July, the Minister of Infrastructure of Ukraine paid special attention to the new river port in Izmail,” Vadaturskyi Jr.’s message on Facebook says.

Andrii Vadaturskyi also added that the war not only deprived the company of its founder, but also seriously disrupted its work.

“All our production, logistics and export capabilities have been affected. 20% of the company’s assets are under temporary occupation in the southern and eastern regions of Ukraine, and the volume of our exports has fallen sharply compared to previous years. Since today the company “Nibulon” cannot work in the usual mode, transport costs for farmers have increased tenfold. This reduced their profits and led to a significant increase in prices for the end consumer,” Facebook said.

The company’s new CEO also announced that “it has engaged an international advisory board to support the management team, and we are implementing new corporate governance procedures in line with international best practices.”