Business news from Ukraine

Business news from Ukraine

Ukraine prepares for concession port terminals “Chernomorsk”

14 May , 2023  

The Ministry of Development of Communities, Territories and Infrastructure (Minvosstaniya) is preparing to concession the first and fifth terminals of the Chornomorsk sea port.
“The first stage is the development of a feasibility study (feasibility study), the next stage is to hold a tender among those wishing to receive the port terminals “Chernomorsk” for concession,” the press service of the Ministry of Reclamation said in a statement on Friday.
The Ministry reminded that the process of transferring the terminals to concession had begun even before the full-scale invasion of Russia.
Deputy Prime Minister and Head of the Ministry of Restoration Alexander Kubrakov explained that the private partnership will lead to significant investments in the terminals, will optimize the logistics of transportation and improve the quality of service.
Besides, according to his words, thanks to the concession Ukraine will annually receive concession fee and taxes collection to the budget.
The feasibility study will be financed by the Global Infrastructure Fund, experts and consultants will be provided by the European Bank for Reconstruction and Development and the International Finance Corporation.
As reported, in 2021, the Ministry of Infrastructure and the State Enterprise “Administration of the Sea Ports of Ukraine” transferred the state stevedoring companies of the sea ports “Kherson” and “Olvia” to private partners of the state.
Concession is an agreement on the transfer of natural resources, enterprises, other economic facilities owned by the state or a territorial community for temporary operation by other states, foreign firms, private persons.

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