At least US$120M will be invested in a Ukrainian port to boost container, oil and bulk trade and work for tugboats in the nation
Qatar-headquartered QTerminals has agreed to invest US$120M in Port of Olvia on the Black Sea in Ukraine after securing a 35-year concession.
Agreements were signed over the weekend in Kiev, Ukraine covering this concession and future investment plans.
The concession contract was signed in front of Ukrainian prime minister Oleksiy Honcharuk, minister of infrastructure Vladyslav Kryklii and minister for development of economy, trade and agriculture Tymofiy Mylovanov.
Also at the event was Qatari minister of transport and communications Jassim bin Saif Al Sulaiti and officials representing the Qatari maritime transport sector.
At the event, Mr Al Sulaiti said this concession was part of QTerminals’ “strategy for expanding in overseas investments”.
QTerminals operates the Hamad Port in Qatar including three container terminals, dry bulk port, offshore supply base and general cargo and multi-user terminals.
The investment in Port of Olvia in the Mykolaiv region will be used to construct at least five new quays for various terminals including containers, bulk and liquids cargo and a multi-user terminal.
This concessionaire will be responsible for financing, designing, constructing, upgrading and operating the port’s terminals and facilities to increase cargo volumes and trade.
This comes as shipping, trading and tug-owning group Nibulon is building a new fleet of harbour tugs in its own shipyard in Ukraine.
These T410 project harbour tugs are designed for pushing and docking vessels and should be completed later this year.
Nibulon is also building four non-self-propelled B1500 open-type vessels at the shipyard for river transport of bulk cargo to its ports and terminals.