Ukroboronservice, Qatari QTerminals to cooperate in Olvia seaport concession project

Subsidiary of the state-owned company (SOE) Ukrspecexport – SOE Ukroboronservice and the design company of the Qatari port operator QTerminals W.L.L. – QTerminals Olvia LLC signed a memorandum of understanding and cooperation in the presence of Minister of Infrastructure of Ukraine Vladyslav Krykliy.

The press service of the Ministry of Infrastructure said on Tuesday evening, the parties will work intensively to ensure proper implementation of the concession agreement and further efficient and profitable operation of the port.

"Olvia specialized seaport is our second concession project, under which we hired the world's leading operator – Qatari company QTerminals, which manages the largest commercial port of Qatar – Hamad with the value of more than $7 billion. Today, the design company of the concessionaire QTerminals Olvia and Ukroboronservice signed the first memorandum of understanding and cooperation within the framework of this concession, which is an important achievement of the transition period," the ministry's press service said, citing Krykliy.

The minister said that, among other things, the document regulates issues related to the common use of infrastructure facilities, and will help the parties to unite efforts to develop strategic infrastructure around the port.

According to him, QTerminals Olvia LLC and SOE Ukroboronservice will jointly make efforts to carry out reconstruction and dredging works, increase the capacity of approach roads and the railway that leads to the port. And the Ministry of Infrastructure, as a concessionaire, will provide ongoing support to the concessionaire in establishing cooperation in the concession project with other state-owned enterprises.

The memorandum also provides for measures aimed at cooperation of the parties with local authorities and public authorities of Mykolaiv region, state-run enterprises and departments in order to ensure sustainable development, as well as the investment attractiveness of the region in which the project is being implemented.

Source: www.en.interfax.com.ua