The Tender Board has started accepting applications for concession tender in the seaport of Kherson

On October 8, 2019, the announcement on the start of accepting applications to take part in the concession tenders for the transfer of the assets of the state stevedoring company in the sea port of Kherson in concession was published in the “Golos Ukrainy” newspaper (the official publication of the Verkhovna Rada of Ukraine). The applications will be accepted until December 6, 2019. The processing of the applications to be admitted to take part in the tender will take 14 days.

Raivis Veckagans: The new Law on Concession to improve conditions for implementing the pilot projects for state stevedoring company concessions in the ports of Olvia and Kherson

Raivis Veckagans, Head of the Ukrainian Sea Ports Administration (hereinafter –USPA), is confident that the adoption of the new Law on Concession by the Verkhovna Rada of Ukraine will help attract foreign investors to the implementation of public-private partnership projects in the port industry and improve conditions for implementing the pilot projects for state stevedoring company concessions in the ports of Olvia and Kherson.

USPA in anticipation of corporatisation, integrated audit and dividend reduction

The above was discussed during the meetings of the Members of the Supervisory Board of the State Enterprise “Ukrainian Sea Ports Authority” with the Minister of Infrastructure of Ukraine Vladyslav Kryklii and the representatives of the Parliamentary Committee on Transport and Infrastructure, which took place on September 19th, 2019. The Members of the USPA Supervisory Board shared with the legislative and executive power representatives their vision of the development of the Ukrainian Sea Ports Administration and of the port industry, as well as obtained the necessary information on the priorities which the state as an owner tasks the enterprise with. “Most importantly, the USPA Supervisory Board, the Ministry of Infrastructure, and the Members of Parliament representing the relevant Transport Committee of the Verkhovna Rada as a whole have a common vision of the main directions of the enterprise development. The main priorities are as follows: the improvement of the competitiveness of ports, the increase in financing of the port infrastructure projects, the USPA corporatization, and essentially, the further development of transparent relations with the port community”, − Dmytro Barinov, the Chairman of the USPA Supervisory Board said. Upon the outcome of the meetings, he emphasized that one can now be confident that the process of reforming the port industry, in particular the implementation of European governance principles and mechanisms of public-private partnerships in ports, would be supported by the government. It is planned that the rate of dividends coming from the USPA’s profit to the state budget would be reduced from 90% to 50% in 2020. This will allow to boost financing of the port infrastructure development projects. In turn, the Sea Ports Authority has to ensure the maximum openness and cost optimization, as well as to undergo an integrated audit. “The Ministry of Infrastructure of Ukraine also stressed upon the importance of closer collaboration of the USPA Supervisory Board with the management of the enterprise to increase the efficiency and transparency of internal business processes. In particular, the Minister of Infrastructure is supporting the expansion of the authority of the USPA Supervisory Board in deciding on the staff issues at the management level on an open competition basis with the involvement of international experts”, − Dmytro Barinov emphasized. “We are grateful to the Minister of Infrastructure of Ukraine, Vladyslav Kryklii, and the Chairman of the Committee on Transport and Infrastructure of the Verkhovna Rada, Yurii Kisel, for the opportunity to discuss in detail the issues of particular importance to the industry and are ready to actively cooperate with the legislative and executive power representatives to achieve fast and efficient results for both the state and businesses”, − the Chairman of the USPA Supervisory Board summarized.

USPA’s preliminary financial statements for 2018 meet International Financial Reporting Standards – Baker Tilly auditors

The “Ukrainian Sea Ports Authority” SE (hereinafter – USPA) is one of the first state enterprises to have finalized the transition to International Financial Reporting Standards (IFRS). On September 27th, 2019, Baker Tilly Ukraine LLC, which is an independent member of the Baker Tilly international network, has completed its audit and prepared an independent auditor report on the USPA’s preliminary financial statements for 2018.

Road Show for the Olvia and Kherson port concession projects, which will take place on October 1

Ukrainian Sea Ports Authority would like to invite international investors  to participate in the Road Show for the Olvia and Kherson port concession projects, which will take place on October 1, 2019, at the Bristol hotel in Odesa, Ukraine. This event will be organized jointly by the Ministry of Infrastructure of Ukraine, Ukrainian Sea Ports Authority, European Bank for Reconstruction and Development, and International Finance Corporation. USPA will become one of the parties to the concession agreement to coordinate the implementation of projects within the framework of the Ukraine’s Sea Port Development Strategy Until 2038. The Road Show of the pilot concession projects is meant to provide a platform to present to the investor community the Government’s vision for the development of the Ukrainian seaport sector, with a particular focus on the concession mechanism and potential projects. During the first session, participants will hear from top officials including Minister of Infrastructure, Minister of Economic Development, Trade and Agriculture, head of the Parliamentary committee for Economic Policy, top management of USPA, as well as representatives of the Mykolaiv and Kherson authorities. In addition, IFC, EBRD and their consultants will share with the participants detailed information about Olvia and Kherson port concession projects, with a particular focus on the description of the tender process and key tender conditions. During this session, participants will have a chance to ask questions and receive clarifications. In order to participate in the Road Show, participants must register by following this link:  http://bit.ly/olviakherson  We look forward to welcoming you in Odesa!

UKRAINIAN SEA PORTS AUTHORITY

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