USPA to encourage USD 1 billion of investment in maritime industry

Ukrainian Ports Forum 2019 participants
Photo by: Latifundist.com

About USD 1 billion of investment is expected in the maritime industry in the coming encouraged by the investment projects of the Ukrainian Sea Ports Administration (USPA). This was reported by Deputy Minister of Infrastructure of Ukraine Yuriy Lavrenyuk within the framework of the annual Ukrainian Port Forum.

“Cargo turnover increased by almost 3.5 million tons and now reaches 135 million tons a year. Transshipment volume is growing two years in a row. We see there is interest for the port industry. Over 2 years, the USPA has attracted more than USD 100 million in seaports. The Administratio also has 39 infrastructure projects, which may attract USD 1 billion in the maritime industry in the near future. Investments in the port infrastructure amount to USD 60 million,” said Yuri Lavriniuk.

Over the past 5 years, grain transshipment volumes in Ukrainian ports have increased by almost a quarter. And in less than five months of 2019, the growth rate has already reached more than 30 per cent y-o-y.