Ukraine is preparing changes to the concession agreement for the Olvia port in Mykolaiv. The aim is to preserve the investment project of the Qatari operator QTerminals, which remains suspended because of Russia's full-scale invasion. 1
Deputy Infrastructure Minister Anatolii Timenko spoke after meeting QTerminals Olvia Director Ruslan Oleinyk. The war has prevented the port from operating fully and the investor from meeting its commitments, so the government and the company plan to revise the financial and legal terms of their cooperation. 1 Timenko said: "Our task is to find solutions that take these circumstances into account and allow us to preserve the partnership." 1
The parties are preparing an amendment to the concession agreement and a corresponding Cabinet decision. A working group is expected to meet in early November to agree on next steps. 1 They are also considering extending the concession's suspension beyond February 24, 2027, given martial law and the time needed to restore port operations. 1 The article does not say what the revised financial terms will be.
The original 35-year agreement was signed in 2020. QTerminals committed to invest approximately UAH 3.4B in port development in the first five years and at least UAH 80M in Mykolaiv's infrastructure. The company suspended implementation after the full-scale invasion began. 1 Ukraine and the company signed a memorandum in 2025 to revive the concession. The article says the port's actual reopening depends on security conditions. 1