The Ministry of Infrastructure of Ukraine is to resume work leading up to the grant of concession of three terminals of the Chornomorsk seaport, one of the largest seaports in Ukraine. In particular, the concession is to cover the first (cargo) terminal, the container terminal, and the fifth (railway and ferry) terminal.
The feasibility study for the project will be financed by the Global Infrastructure Facility, with experts and advisers from the European Bank for Reconstruction and Development and the International Finance Corporation. Following the feasibility study, the state contemplates holding a tender amongst potential investors to transfer the terminals into a concession.
Prior to the invasion of 2022, Ukraine significantly improved the legislative framework for public-private partnerships, namely, by amending the Law "On Private-Public Partnership" and adopting the new Law "On Concession". The concession of the Chornomorsk seaport is expected to become another landmark public-private sea port project following the successful award of two pilot concession projects in the Kherson and Olvia seaports in 2021, also prepared with the assistance of EBRD and IFC.
By Olexiy Soshenko, Managing Partner, Redcliffe Partners
