Government prepares changes to Olvia port concession due to war consequences

Ukraine is working on amendments to the concession agreement for the Olvia port in order to preserve the project and create conditions for its further implementation after the port resumes operations.

This was announced by Deputy Minister for Reconstruction, Infrastructure and Transport Anatoliy Timenko after a meeting with QTerminals Olvia Director Ruslan Oleinyk.

According to him, the full-scale war has significantly affected the operation of ports and the ability of investors to fulfill their obligations. Therefore, the parties are currently looking for solutions that will take into account the war circumstances and allow for the preservation of the partnership.

In particular, amendments to the concession agreement are being prepared, taking into account the consequences of the war. Financial and legal issues that need to be resolved to continue the project are also being worked out.

In addition, a draft additional agreement to the concession agreement and a corresponding government decision are being prepared.

In early November, the parties plan to convene a working group to agree on further steps.

The issue of extending the suspension of the concession after February 24, 2027, taking into account martial law and the time required to resume the port’s operation, is being considered separately.

Timenko emphasized that the government is interested in maintaining cooperation with investors and continuing the implementation of the QTerminals Olvia concession project.

The concession agreement for the Olvia port was signed in August 2020 between the Ministry of Infrastructure, the USPA, the Qatari QTerminals W.L.L. and QTerminals Olvia. The project is designed for 35 years.

In December 2021, QTerminals Olvia actually took over the management of the port’s assets. The concessionaire was to invest about UAH 3.4 billion in the development of Olvia during the first five years, as well as allocate UAH 80 million for the development of the infrastructure of Mykolaiv.

After the start of the full-scale Russian invasion, the implementation of the concession was temporarily suspended due to force majeure. QTerminals Olvia actually lost the opportunity to conduct economic activities in the port due to the blockade of sea routes and the general security situation. The company received a corresponding certificate from the Chamber of Commerce and Industry on the occurrence of force majeure.

Recall that in the summer of 2025, Ukraine signed a memorandum with Qatari QTerminals on the renewal of the concession in the port of Olvia.