The Ukrainian government has announced the launch of a PPP competition for the First and Container Terminals of the Chornomorsk Sea Port. As the Prime Minister reported, the order to create a competition committee in Odessa was signed by Deputy Prime Minister Oleksiy Kuleba. This is the first such project in the port industry since the start of the full-scale war.
According to Economy Minister Yulia Svyrydenko, the PPP format allows the state to retain ownership, and the investor to modernize and manage the facilities. More than 40 leading international port operators and investors have already expressed their willingness to participate in the project. We are talking about hundreds of millions of dollars in investment in modernization and more than $1.1 billion in budget revenues over 40 years, which could become the largest investment in the history of Ukrainian ports.
Kuleba noted that the implementation of the project will not only give impetus to the economy, but also restore container transportation. In just three years, their volume could reach 250,000 TEU per year, and in the long term, exceed the pre-war level of over half a million. This will put Chornomorsk in the category of leading European hubs and become a model for further projects in the port sector.