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QTerminals Olvia Officially Takes Over Port Concession

QTerminals Olvia officially takes over port concession

Odessa, Ukraine (PortSEurope) December 3, 2021 – QTerminals Olvia concession, part of the QTerminals Group, has taken over state-owned Olvia Stevedoring Company in a public-private partnership for 35 years. the state was represented by Ukrainian Sea Ports Authority (USPA). Alexander Kubrakov, Minister of Infrastructure of Ukraine, said: “Today we are attracting guaranteed investments in the amount of UAH 3.4 billion to the port of Olvia. Almost
half of these funds will be used to build the port in the next 3.5 years. Now one of the most promising ports in the country will receive a new modern infrastructure. The agreement provides for the preservation of jobs for employees of the enterprise for a period of 6 years. There is also a requirement for the maximum involvement of Ukrainian citizens to work in the port. A separate point of the agreement is the decision of infrastructural problems of the city of Nikolaev. Thus, a new tunnel under the railway in the Korabelny district is planned to be built at the expense of the investor. Thus, public-private partnership here is not only about the development of a particular port, but also the region as a whole. These are new jobs, new infrastructure, growth of export potential of Ukrainian business and, as a result, increase of competitiveness of Ukraine on the international trading platforms”. According to the agreement, QTerminals Olvia invests about UAH 3.4 billion in the development of the port. Also, at least UAH 80 million UAH will be invested in infrastructure of the Ukrainian port of Nikolaev. QTerminals Olvia together with the Ministry of Infrastructure of Ukraine, Olvia Insurance Company, the joint office of the Public-Private Partnership Project Office, the Seaports Administration of Ukraine, and a group of consultants and advisors ensured compliance with all preconditions of the Concession Agreement. Starting on December 2, 2021, QTerminals Olvia will start managing port assets transferred to concession. “As an international operator of highly qualified ports and terminals, QTerminals intends to use all its experience and knowledge in the field of ports and terminals to ensure that QTerminals Olvia provides its customers with a secure service of the highest quality and standard,” said Neville Bissett , CEO,QTerminals groups. QTerminals is a leading international operator of ports and terminals, providing services for handling containers, bulk and general cargo, Ro-Ro, livestock, offshore supply services, and cruise transport. Including the port of Hamad, the flagship port of QTerminals in Qatar, and QTerminals Antalya in Turkey, QTerminals Olvia is the third port asset of the QTerminals Group since its inception. More PortSEurope news about QTerminals Copyright (C) PortSEurope. All Rights Reserved. 2021.

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