17:55 05.04.2021

Agreement signed on Qatari QTerminals' extra contribution to concession of Olvia seaport - Infrastructure Ministry

2 min read
Agreement signed on Qatari QTerminals' extra contribution to concession of Olvia seaport - Infrastructure Ministry

An agreement on making an additional contribution from the Qatari port operator QTerminals to the concession project for Olvia specialized seaport has been signed during the official visit of Ukrainian President Volodymyr Zelensky to Qatar.

The signing of this agreement was announced by the press service of the Ministry of Infrastructure of Ukraine with reference to Minister Vladyslav Krykliy.

At the same time, it is specified that the agreement was signed in the presence of Minister of Transport and Communications of Qatar Jassim Al Sulaiti and Foreign Minister of Ukraine Dmytro Kuleba.

The Ministry of Infrastructure notes that the signing of this agreement is an important stage in the procedure for transferring the port to concession, since it confirms the financial viability of the concessionaire to finance the entire amount of the declared investment - $140 million.

"Within the framework of the Olvia seaport concession, the leading world operator, the Qatari company QTerminals, which manages the largest commercial port of Qatar, Hamad, worth more than $7 billion, was involved in work in Ukraine. I welcome today's signing the agreement on making an additional contribution from the concessionaire to this project. This is one of the main prerequisites for the further transfer of the port's property to concession," Krykliy commented on the signing of the document.

The agreement on transfer to concession of Olvia specialized seaport, located in Mykolaiv, was concluded on August 20, 2020. According to it, the Qatari company QTerminals will invest about UAH 3.4 billion in the development of the port. In addition, at least UAH 80 million will be invested in the local infrastructure. In just 35 years, concession will attract UAH 17.3 billion. The annual concession payment will be at least UAH 80 million. In addition, the concessionaire must ensure the minimum volume of cargo transshipment of at least 2.55 million tonnes per year, also guarantees the preservation of jobs for the next six years and the appropriate level of wages for the team.

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