Port Olvia and QTerminals has discussed the start of the concession

The transit period of the concession of the specialized seaport Olvia was discussed by the experts of the port together with the representatives of the concessionaire – QTerminals Olvia LLC.

The participants of the meeting, which took place yesterday, June 16, has discussed the specifics of the transitional period of the concession, as well as general issues of the development of Olvia and the procedure for coordinating actions.

They also discussed the development of a technical passport for the initial real estate of the port as part of the measures for the formation and registration of an integral property complex.

According to the agreement, the object of the concession is an integral property complex, including the property of the State Enterprise “Stevedoring Company “Olvia”, State Enterprise “Ukrainian Sea Ports Authority”, as well as objects specially built in accordance with the terms of the concession agreement.

The property transferred to the concessionaire as part of the concession object remains in state ownership and after the expiration of the concession agreement is transferred to the state with all the objects built or modernized by the investor during the period of his work. To conduct concession activities, the concessionaire is provided with land plots for lease by the decision of the Mykolaiv Regional State Administration.

During the first 3.5 years from the beginning of the concession, the concessionaire is obliged to invest in the concession object at least UAH 1 billion 560 million (USD 57 million) (including VAT), and during the first 10 years to invest additionally at least UAH 1 billion 800 million (USD 65.8 million).