A large-scale investment project is starting at the maritime trade port “Chornomorsk” in the Odesa region, which will become the largest in the history of Ukraine’s port industry. The Ministry of Community and Territorial Development has announced the establishment of a competition commission to attract investments for the development of the port’s infrastructure.
This is reported by Finway
Terminal Concession: Project Details
The first and container terminals of the port “Chornomorsk” are being offered for concession. These strategic assets remain in state ownership; however, the investor will have the right to modernize and manage them for an extended period. The state guarantees transparent rules, investment protection, and stability of the regulatory framework, while businesses gain the opportunity to operate in a large, promising market.
The project is set to become the largest investment in the history of Ukrainian ports. Its scale involves hundreds of millions of dollars in investments for the modernization of docks and equipment, over $1.1 billion in revenues to budgets over 40 years, and more than 1,000 jobs created.
Interest in the project has already been expressed by over 40 international port operators and potential investors, ensuring a high level of competition and allowing for the selection of the best conditions for the Ukrainian state.
Forecast for Cargo Growth and Implementation Stages
According to forecasts, within three years from the start of the project, container traffic at the port of “Chornomorsk” could increase to 250,000 units per year. In the longer term, there are plans to return to pre-war levels, which exceeded 500,000 containers per year.
The announcement of the competition to find an investor will take place after the competition commission is formed and the necessary documentation is prepared with the participation of the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD). The implementation of the project will ensure a significant influx of investments, the creation of over a thousand new jobs, and substantial growth in budget revenues over the coming decades.