Namely, the investment belongs to a private partnership, held by state-owned Ukrainian Sea Ports Authority (USPA) and Ukrainian agricultural company Kernel.
Both investors expect that the investments will increase the yearly volume of transshipment of agricultural cargo to at least 6 million tons starting in 2021, and bring it up to 7 million tonnes.
Raivis Veckagans, Head of USPA commented
This year we completed a large-scale dredging project on the port’s approach canal and we immediately proceed to the creation of the depths necessary for operations at the berths No. 14-17.
Veckagans added that the project would create about 250 new jobs in the Port of Chornomorsk.
Overall, the expansion of the Port of Chornomorsk was already planned from 2018, when the Ukrainian Sea Ports Authority discussed about constructing a container terminal in the area.