The Ministry of Community and Territorial Development of Ukraine has signed a memorandum with the Qatari company QTerminals and its subsidiary QTerminals Olvia to revive the concession project at the specialized seaport “Olvia” in the Mykolaiv region. This document outlines the intentions of the parties to restart port operations after a forced halt caused by the full-scale aggression of the Russian Federation.
This is reported by Finway
The First Concession Project in Ukraine’s Port Sector
The port assets of “Olvia” were granted to QTerminals Olvia under a concession agreement on December 1, 2021, for a period of 35 years. It was anticipated that the company’s investments would exceed 3.4 billion hryvnias. This project became the first example of attracting private capital for the development of Ukraine’s port infrastructure under concession terms.
Legislative Changes and Development Prospects
According to the new version of the Law on Public-Private Partnership, which will come into effect in October 2025, the terms of concession agreements may be revised in the event of force majeure circumstances. The law allows for the temporary suspension of concession agreements and adjustments to financial parameters.
“Concession agreements are an effective tool for attracting investments and ensuring the restoration and development of Ukraine’s infrastructure. We are considering the possibility of signing memorandums between ports to establish sister port statuses, which will open new horizons for cooperation, allow for the exchange of experiences, and jointly develop maritime logistics,” emphasized the ministry.
The revival of cooperation between Ukraine and Qatar regarding the Olvia port opens up new opportunities for the development of maritime logistics, attracting investments, and modernizing the country’s transport infrastructure.