KIEV, Nov. 1 – Ukraine's State Food-Grain Corporation is mulling the possibility of implementing a joint project on modernization of elevators and building a new deep port terminal with China's CCEC.

The corporation said in a press release on Monday that total investment would preliminarily total nearly $500 million.

Some $25 million will be sent to modernize the Odessa grain terminal. This will help to increase its capacity and reduce expenses on loading of ships. After the modernization the company will be able to service ships of Panamax type, stop loading ships in the harbor and cut the freight cost. The operating capacity of the terminal would expand to 120,000 tons. This would allow accumulating cargo for around two ships.