Economic Development Ministry: Olvia seaport concession to help attract UAH 3.4 bln in investment

“Today, 20 August 2020, an agreement on the concession of the specialized Olvia seaport was signed between the Ministry of Infrastructure of Ukraine, SE "Administration of Sea Ports of Ukraine", QTerminals W.L.L company, and QTerminals LLC. The implementation of the concession project will help attract investments in the amount of UAH 3.4 billion and will become one of the largest foreign direct investments in the port industry of Ukraine over the past 30 years,” the press service of the Economic Development, Trade, and Agriculture  Ministry of Ukraine informs.

Moreover, it is expected that at least UAH 80 million will be invested in the development of Mykolayiv city infrastructure and annual budget revenues will be at least UAH 80 million, taking into account indexation and 0,75% of concessionaire’s net income (for comparison: the size of concession payment is 16 times as much as the port's profit for 2019).

As noted, QTerminals W.L.L is the leading port operator of the State of Qatar and is responsible for the management of seaports and transport terminals throughout the country. This project is a successful example of concession and was prepared with the support of the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC, World Bank Group), and the Global Infrastructure Facility (GIF).

As reported, QTerminals won the competition for the Olvia seaport concession in January 2020.

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