Investments to the tune of over UAH 1.3 billion will be leveraged to ensure the development of Mariupol port infrastructure. Minister of Infrastructure Vladyslav Kryklii announced today, October 29, 2019, during a ceremony of the signing of the Memorandum of Cooperation between SE Ukrainian Sea Port Administration, SE Mariupol Commercial Sea Port, COFCO AGRI RESOURCES UKRAINE LLC and STT LLC. The signing took place in the framework of the Investment Forum, which is underway in Mariupol.

“Ukrainian ports are opening up new opportunities for foreign investors. COFCO's cooperation with the Ukrainian side is beneficial for all since investment in the development of the Mariupol seaport will be provided, cargo traffic increased and, as a consequence, considerable earnings to budgets of various levels. The Government is making considerable efforts to provide comprehensive support for the Azov Sea region, so cooperation with such an international company as COFCO is a strong message for other companies to invest in the ports of Mariupol and Berdiansk,” stressed Vladyslav Kryklii.

The Minister of Infrastructure noted that the Memorandum envisages the implementation of an infrastructure project at the port of Mariupol, which will provide a total attraction of more than UAH 1.3 billion of investments in the development of the port infrastructure and increase freight traffic by 2.3 million tons. Moreover, it means creating two hundred jobs, raising social standards for port industry employees. The implementation of the project will contribute to the development of the agro-industrial complex of the Azov Sea region, thus entailing the cheapening of logistics services for agricultural producers.

In view of the port development plan, the Memorandum also envisages collaboration between the parties on the reconstruction of berths # 2 and # 3, construction of the second turn of the grain terminal and creation of a single cargo handling complex.