Ukraine seeks investors for Chornomorsk Port's terminals in a 40-year concession, aiming for significant economic impact and increased capacity.
Ukraine has launched a concession competition for the First and Container terminals at Chornomorsk Port, aiming to secure an investor for what is expected to be the largest project of its kind in the country, as reported by the Odessa Journal.
The Ministry for Communities and Territories Development stated that the concession encompasses assets of SE Chornomorsk Commercial Sea Port and SE Ukrainian Sea Ports Authority, including berths 1-6. The concessionaire will also own any property created during the agreement.
The deal will span 40 years, with applications due within 75 days of the announcement. The concessionaire must invest to meet throughput targets outlined in development plans.
Within three years, the port's capacity is expected to reach 250,000 TEU annually for containers and three million tons for other cargoes. Additionally, the concessionaire must fund the reconstruction of the port overpass, estimated at up to US$4 million, and fulfill social obligations such as retaining staff and maintaining salaries for three years.
The government forecasts that the project will generate over $1.1 billion in budget revenues throughout the concession term, alongside significant investments in berths and equipment. Container throughput is anticipated to be restored to 250,000 TEU per year.
More than 40 international port operators and investors from four continents have already expressed interest, raising expectations for strong competition and favorable conditions for Ukraine.
