The Cabinet of Ministers approved the Strategy for Development of Ukrainian Seaports until 2038 at a meeting on July 11, the press service of the Ministry of Infrastructure has announced.

For the first time, the strategy introduces short-term (up to 5 years), medium-term (up to 10 years), and long-term (25 years) planning of the industry’s development in accordance with international standards.

Long-term implementation of the strategy is expected to increase annual cargo handling to 210 million tons, attract UAH 26 billion in private investment in development of port infrastructure, create capacity for processing at least 250 million tons of cargo per year at ports, increase the efficiency transshipment facilities at seaports to 80%, and create an additional 15,000 jobs.

The main objectives of the strategy in the next 25 years are to increase competitiveness, attract long-term private investment into the industry, and ensure efficient management and use of strategic port infrastructure.

In addition, it provides for guaranteeing equal access to services provided at ports, ensuring safety of maritime and economic operations at ports, and ensuring compliance with international standards of environmental safety.

The strategy was drafted based on expert recommendations prepared by a special working group set up by the Ministry of Infrastructure, which included representatives of Roland Berger Strategy Consultants, the public council of the Ministry of Infrastructure, industry associations, the Federation of Ukrainian Transport Industry Employers, the Ukrainian national committee of the International Chamber of Commerce, major investors at Ukrainian ports, the heads of Ukrainian ports, etc.

To determine the volume of financing, each port is preparing its own short-, medium-, and long-term development plan. The documents should be submitted to the Cabinet of Ministers for consideration within six months.

As reported by CFTS, cargo handling at Ukrainian ports (both private and state-owned terminals) reduced by 1.1 million tons or 0.7% to 154 million tons in 2012, compared with 2011.