MIU Confirming Investment Project of UDSC on Dnipro Shipping

23 Мар

Ministry of Infrastructure of Ukraine (MIU) has approved realisation of the investment project Dnipro Transportation by the public JS Ukrainian Danube Shipping Company (UDSC) envisaging development of merchant shipping by the river Dnipro, as reported by the company’s Press Office.

The investment venture Dnipro Transportation provides for construction of 16 pusher tugs with hybrid diesel engines, 31 barges of Europe-2 class, construction and capital repairs of 5 locations for the fleet stay and technical maintenance, and so on. The total cost estimation is above $200M.

MIU Confirming Investment Project of UDSC on Dnipro Shipping

Dnipro Transportation project is in line with the priorities of state policy and is a practical implementation of the recently adopted by the Cabinet of Ministers “National Economic Strategy for the period up to 2030”, supported by the President of Ukraine Volodymyr Zelenskyy. In the future, PJSC UDP will continue to work on implementation of the large-scale Dnipro Transportation project with international financial organizations, Ministry of Finance, Transport Committee of Verkhovna Rada (the parliament of Ukraine) to obtain appropriate state guarantees and attract a wider range of international partners to the project on mutually beneficial commercial terms,” noted Press Office.

The implementation of Dnipro Transportation project will enable providing the measures to revive the E-40 river route, use the Dnipro river transit potential through restoration of cargo transportation, as well as reduce the load on Ukrainian roads and railways, create orders for the shipbuilding industry and reduce the volume of pollutant emissions into the air, as the company stressed upon.

In February, PJSC UDSC developed and sent to MIU a preliminary project proposal and the estimate financial pattern to attract $200M for the Dnipro river navigation development.

Earlier UDSC had addressed MIU with the request to transfer to the company’s control the Dnipro river ports and terminals being in public property and controlled by the state enterprise Ukrainian River Ports Authority.

PJSC UDSC provides river cargo transportations by the Danube and sea cargo carriage. It operates 75 self-propelled and 245 non-self-propelled river vessels, and 7 sea-going ships of 3,300 to 4,000 DWT – 6 dry cargo Izmail type vessels and a tanker. The basic cargoes concern metallurgic raw materials supplied to the Danube littoral countries. The company operates as well four passenger ships cruising in the Danube.

In 2020 the company’s fleet carried 1.32M t of cargo i.e. down by 16.8% comparing to 2019, 1.09M t of which shipped by the river-going tonnage.