Ukrainian President Urged to Settle Ilyichevsk Port Dispute

Ukrainian President Urged to Settle Ilyichevsk Port Dispute

Ukrainian privately-owned terminal operator Container Terminal Ilyichevsk (CTI) has called on the country’s President Petro Poroshenko to step in and settle the dispute between CTI and the state-owned enterprise Ilyichevsk Commercial Seaport.

CTI is appealing the court decision initiated by the Black Sea port to terminate a joint venture agreement concluded by the parties in 2005.

”The violation of state guarantees for investments in CTI’s case can lead to extremely negative consequences for Ukraine, the loss of confidence of foreign investors – private beneficiaries of CTI: US investment fund Siguler Guff & Company and German SRR Deutschland and further reduction of foreign investment in Ukraine,” said CTI’s CEO Andriy Pavlyutin, co-author of the open letter.

”Creating a negative precedent for attracting new investments would adversely affect the feasibility of State Seaports Development Strategy in Ukraine.”

CTI says that since the signing of the joint-venture agreement between the port and CTI in 2005, over USD 56 million has been invested into large scale reconstruction of the container terminal.

Share this article

Follow World Maritime News

One thought on “Ukrainian President Urged to Settle Ilyichevsk Port Dispute”

Comments are closed.

In Depth>

Events>

<< Feb 2020 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 1

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >

World Future Ports Summit 2020

This event will bring together ports and maritime shipping professionals from global leading companies and authorities to discuss recent digital technologies…

read more >