Germany to Assist USPA in Construction of New Odessa Terminal

Earlier this week, a delegation from Germany visited the construction site of the future ‘Container Terminal Odessa’, which is owned by Hamburg Port Consulting.

State Secretary of the Federal Ministry of Transport and Digital Infrastructure Mr. Rainer Bomba visited the construction site at the Quarantine Mole in Odessa seaport.

During the visit, Mr. Bomba discussed construction progress with the Head of Ukrainian Seaports Authority (USPA) Mr. Raivis Veckagans.

According to USPA, the Federal Ministry is considering the possibility of providing guarantees of the Federal Government on funding these works by KfW bank (German State Bank).

“Despite delays in construction terms the container terminal is a priority project for USPA. After approval of the financial plan we will continue construction works on building the breakwater. We do our best to solve the issue and we appreciate Hamburg Port Consulting investment group as a flagship investor in Odessa port,” Raivis Veckagans said.

“We are serious about investing in the project. As a Federal Government we are ready to assist in attracting KfW loan and carry out technical expertise of the project design. We are pleased by constructive dialogue with the Ukrainian side,” Mr. Bomba said during the meeting.

The estimated capital investment for the completion of the breakwater and dredging of the port waters totals €40 million.