The working group of the state enterprise (SE) Stevedoring Company Olvia and SE Ukrainian Sea Ports Authority (USPA) on assets use efficiency analysis has decided to work out a financial pattern for the public stevedore’s concession project and submit the corresponding results to the next session scheduled on mid September.
As advised by Olvia Press Office, the meeting was presided by Minister of Infrastructure Volodymyr Omelian and attended by representatives of the ministry, its project office SPILNO, SE USPA, SE Olvia and project consultants, as well as trade unions. The first session of the group had been held in Ministry of Infrastructure on Thursday.
Oleg Kudashov, the expert on investments of International Financial Corporation (IFC), outlined the concession project’s essential advantages, namely the port capacities development and expansion, rise of cargo handling and increase of revenues to all budgets, among others. He also pointed out the concessionaire’s possibility of participating in Mykolaiv infrastructure development (as the construction of detour road and railway lines to the port) which would amount to 5% of the project capital investments.
On Tuesday the feasibility study (FS) for the SE SC Olvia was presented to the public stevedore’s working force delegates.
In November 2017 Ministry of Infrastructure and IFC signed Memorandum of Understanding aimed at the development of public-private partnership (PPP) in the port sector of Ukraine. According to the paper, IFC is going to structure the PPP projects for SE SC Olvia and SE Kherson Sea Trade Port (KSTP). The corporation will also examine possibility of structuring the PPP project for the railway ferry complex of SE Chornomorsk STP.
SE SC Olvia, KSTP and CSTP railway ferry complex (Terminal 5) are among the state companies concession pilot projects to be realised at. The relevant acts were adopted by the ministry on 23 June 2016, and the pre-FS of the project completed in September 2017.