USPA and TIS signed a Memorandum on dredging

The Ukrainian Sea Ports Authority (USPA) and TransInvestService (TIS) signed a Memorandum of understanding on the implementation of infrastructure projects in the seaport of Yuzhny, the Ministry of Infrastructure of Ukraine informs.

The Memorandum provides for joint efforts of the state enterprise and a private company for the development of the port infrastructure of Yuzhny.

According to the indicative plan of the TIS group of companies, after the approach channel dredging, over a 10-year period, the company plans to increase the volume of transshipment by 10-15 million tons. The Minister of Infrastructure of Ukraine Vladimir Omelyan noted that for the first time the state carried out dredging under clear guarantees of business to increase the cargo flow, and therefore, such investments were 100% recoupable.

The TIS group of companies vests in the development of its terminals in the port of Yuzhny is almost USD 700 million.

Earlier, USPA already implemented a dredging project in the interests of a private company related to TIS. In 2017, China Harbor Engineering Company (CHEC) carried out works for the MV Cargo terminal. The Chinese company increased the depths in the water area of the future berths No. 23-25 from 0.5-6 to 16 m.