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Posted On: 1 February 2020 11:47 am
Updated On: 1 February 2020 01:07 pm

QTerminals to develop and operate Port of Olvia in Ukraine

Leena Chung
Leena Chung
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QTerminals, the operator of Hamad Port, has won concession to develop, manage and operate Port of Olvia in Ukraine.

Under the concession, which represents an exceptional opportunity on developing and operating world ports, QTerminals will invest some $120 million in the port during the concession term of 35 years.

In the presence of H.E. Ukrainian Prime Minister Oleksiy Honcharuk, H.E. Minister of Transport and Communications Jassim bin Saif Al Sulaiti and H.E. Ukrainian Minister of Infrastructure Vladyslav Kryklii and H.E. Ukrainian Minister for Development of Economy, Trade and Agriculture Tymofiy Mylovanov attended the event held on awarding the concession to develop, manage and operate Port of Olvia in Ukraine, to QTerminals.

Held in Kiev, the event was attended by H.E. Qatari Ambassador to Ukraine Hadi bin Nasser Al Hajri and a number of officials representing Qatari maritime transport sector, Qatar Ports Management Company (Mwani Qatar), shipping and logistics company Qatar Navigation (Milaha) and the Ukrainian Sea Ports Authority.

On this occasion, H.E. Minister of Transport and Communications Jassim bin Saif Al Sulaiti stressed the deep relations between the State of Qatar and the Republic of Ukraine and the high level of bilateral cooperation between the two friendly countries.

"This concession is a major achievement for QTerminals that honors its strategy for expanding in overseas investments as a Qatari company specialized in seaports management," he said.

He noted that awarding the concession is a key investment opportunity in one of Ukraine's most important Black Sea ports and it will feature significant developmental works at the port in a way that supports its operations and boost its navigational and logistics services portfolio to meet best world standards and this will enhance its operational revenues. HE Minister also said that this step will bolster the economic cooperation with Ukrainian and international firms, thus supporting the goals of the Qatar National Vision 2030.

This investment, he noted, will represent a turning point in QTerminals' journey of contributions to the sustainability of the national economy and support for the efforts that aim to leverage Qatar's competitiveness on world map.

Established in 1992, Port of Olvia, located in the Mykolaiv region on the Black Sea coast, has been seeing a significant year-on-year increase in grain and oils exports. Mykolaiv is a city in southern Ukraine and one of the top shipbuilding centers. On an area of 178 hectares, Port of Olvia has 6 berths and 22 cranes and a number of warehouses and storage areas. Its quay is 1530 meters long and having own rail connection for transporting cargo inside the port.

QTerminals was established as a JV between Mwani Qatar and Milaha. It operates Phase 1 of Hamad Port and now is building Phase 2 of the port. Hamad Port has played a key role in making Qatar a regional business hub that boosts intra-trade in the Middle East region and region's trade with the world.

Meanwhile, H.E. Minister of Transport and Communications Jassim bin Saif Al Sulaiti met with H.E. Ukrainian Minister of Infrastructure Vladyslav Kryklii, where they reviewed the aspects of enhancing cooperation in the fields of transport, ports and aviation.

H.E. Al Sulaiti also met with H.E. the Deputy Head of the Office of the President of Ukraine on Foreign Policy and European Integration Zhovkva Ihor Ivanovych, where they reviewed bilateral relations between the two countries in the fields of transport and communications.

The meetings were attended by H.E. Qatar's Ambassador to Ukraine Hadi bin Nasser Al Hajri, and the delegation accompanying HE the Minister of Transport and Communications.

Source: QNA