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QTerminals wins Black Sea port concession

QTerminals wins Black Sea port concession

Ukraine will receive one of the largest foreign direct investments (FDIs) in its history after awarding the concession for the Port of Olvia to QTerminals.

In a statement, the Ukrainian Sea Ports Authority (USPA) said approximately $137.4 million (UAH 3.4 billion) will be invested in the port over the next five years.

Furthermore, it will also see QTerminals invest $3 million (UAH 80 million) in the development of the infrastructure of the nearby city of Mykolayiv.

The annual concession fees will amount to $3.3 million (UAH 82 million) which will be 16 times higher than the port’s profit in 2019.

The Port of Olvia specializes in handling cargo, including those that need specific handling and storage.

It is the latest announcement made by the USPA, which in September unveiled a partnership with Kernal, a leading producer and exporter of agricultural products, to build a new terminal at the Port of Chornomorsk.

QTerminals is the leading port operator of the State of Qatar being responsible for managing sea ports and transport terminals across the country.

The company operates the Port of Hamad, the largest in the country and also one of the dominant and modern offshore logistics hubs in the Middle East.



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