The Ukrainian Sea Ports Authority (USPA) plans to spend a record UAH 611 million on implementation of investment projects in the Mykolaiv seaport in 2018. This is four times more than it spent in 2017. The investment projects will be implemented during the period of 2018-2019, the Ukrainian Sea Ports Authority said.

"Increase of the amount of capital investments in the Mykolaiv seaport in 2018 is an ambitious goal for the USPA, which opens broad prospects for development. These funds are government investments in development of the port’s infrastructure. Together with funds from private investors, these funds will significantly increase the competitiveness of not only the Mykolaiv seaport, but also the Mykolaiv region, meet port operators’ needs related to increasing cargo flows and the modern realities of the port business," the Ukrainian Sea Ports Authority’s acting head Raivis Veckagans said.

A significant part of the capital investment – UAH 350 million – is intended for implementation of projects involving construction of major port facilities, namely construction of the berth No. 8, which was destroyed as far back as the Second World War. The Ukrainian Sea Ports Authority also plans to perform routine and major repairs of other berths at the port (modernization and reconstruction of the berths No. 0 and No. 7 and reconstruction of the breakwater at the Ochakov port station).

UAH 211 million will be invested in operational dredging of the Mykolaiv seaport’s approach channel (the 13th tributary of the 13th tributary of the Dnieper-Bug Estuary canal), as well as the waters and approach channel of the Dnieper-Bug seaport.

It also plans to build a parking facility with an area of 35 hectares for holding heavy vehicles and create a logistics center during the period of 2018-2019 with the aim of optimizing the movement of heavy vehicles to/from enterprises in the marine sector of Mykolaiv’s economy, preventing traffic congestion on the streets of the city, and preventing trucks from idling in undesignated places. 

In addition, it plans to upgrade the port’s security system.

As reported earlier, the volume of cargo transshipment at the Mykolaiv seaport increased by 5% to 23.5 million tons in 2017, compared with 2016. This made the Mykolaiv seaport the third largest port in Ukraine in terms of volume of cargo traffic.