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Ukraine plans major port infrastructure modernization worth $1.68 billion

Staff Writer |
Ukraine announced a modernization plan composed of 46 projects in its ports by 2030 with a total cost of over $1 billion.

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While speaking at the Ukrainian Ports Forum 2018 in the port city of Odessa, Ukraine's Deputy Prime Minister Volodymyr Kistion said the majority of the projects envisage the development of new transshipment capacities, including the construction of new berths and cargo handling terminals.

"It will create about 5,000 additional jobs and would allow boosting the throughput capacity of the ports to 157 million tons of cargo," Kistion was quoted as saying by the government press service.

He said the comprehensive modernization of the Ukrainian ports will cost about $1.68 billion.

Ukraine's maritime industry includes 14 ports on the Black Sea and the Sea of Azov, which together handle some 130 million tons of cargo annually.

Last year, the Ukrainian government started a modernization of the country's infrastructure, prioritizing projects on automobile roads, seaports and airport upgrades.

Ukrainian Prime Minister Volodymyr Groysman said the infrastructure modernization will enhance Ukraine's role in building the modern Silk Road, boosting trade and cooperation between Asia and Europe.

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