QTerminals (Qatar) will invest $ 120 million in the Ukrainian seaport of Olvia (Oktyabrsk)
The Qatari company QTerminals, a joint venture between Mwani Qatar and Milaha, won the tender for the 35 years’s concession of Olvia Port (former Oktyabrsk) in Nikolaev (Mykolaiv) as a part of its plan to expand its operations in the Black Sea region.
On January 31, 2020, in Kiev, the Company carried out an official presentation of its project. The event saw the participation of Minister of Infrastructure of Ukraine Vladyslav Kryklii and Minister of Transport and Comunications of the State of Qatar Jassim Saif Ahmed Al-Sulaiti, as well as the newly appointed Ambassador of Ukraine to the State of Qatar Andrii Kuzmenko and the Qatari Ambassador to Ukraine Hadi bin Nasser Mansour al-Hajri.
QTerminals will invest some $120mn in the port during the concession term of 35 years. The Ukrainian State budget will receive 3,3 million dollars of annual payments and 3,2 million dollars for the development of the local infrastructure of the Mykolaiv region.
Established in 1992, the Port of Olvia is located in Nikolaiev on the Black Sea coast close to Odessa, and has recorded a significant year-on-year increase in grain, oils exports and construction materials. Nikolaiev is also one of the top shipbuilding centers. The port was put under concession in October 2019 as Ukraine sought to boost the port’s competitiveness and attract investment in its infrastructure.