The port administration of Odessa Commercial Sea Port has compiled a new version of investment agreement for the construction of a deep-water container terminal in the port and has sent it to the Ministry for Transport and Communications of Ukraine. The new terminal will allow to service vessels with a draught of up to 15 meters. According to port director Nikolay Pavlyuk, the new investment agreement plan presumes that the port administration will invest half of the money needed for constructing the new terminal, which is approximately $250 million.

The second half should be financed by a private investor. Recently, the joint Russian-German venture “State-Private Company Ukraine” refused to fully finance the terminal construction and only agreed to partly finance the project. “After they had refused to sing the agreement several weeks ago, we arranged several meetings and found another cooperation alternative, as a result of which we developed this investment project” - said Nikolay Pavlyuk.

Ukraine’s Minister for Transport and Communications Vasily Shevchenko says his ministry will supports this investment agreement only if an open tender for participating in the construction is organized.

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The state enterprise company Odessa Commercial Sea Port consists of eight production and transshipping facilities for dry cargo, one passenger facility, several oil and container terminals, as well as one facility for food and technical oil. In total the port has 54 berths with a total length of more than 9 thousand meters which allows it to service vessels with capacities of up to 100 thousand tones.