Chinese firm to upgrade ukraine port

Added On May 20, 2017

A Chinese company has signed a multi-million dollar deal with the Ukrainian government to upgrade the Ukraine's busiest cargo port. 
Under the agreement, the China Harbor Engineering Company will carry out dredging works around the Yuzhny port, which lies on the Black Sea in the southern Odessa region. 
Specifically, the company will increase the depth of Yuzhny's approach channel from 16 meters to 19 meters, and upgrade the operational area around three berths in the port.
The work will help improve access to Yuzhny, allowing larger ships to come and so boosting its cargo handling capabilities.
Addressing the signing ceremony, Ukrainian Prime Minister Volodymyr Groysman says the project is highly important for the country.
The Ukrainian government estimates that the project will create about 350 new jobs, and generate additional 16 million U.S. dollars annually for the state and regional budgets. 
The Yuzhny port was ranked the largest Ukrainian port in the terms of cargo turnover in 2016, having reloaded 39 million tons of commodities.
China Harbor Engineering Company won the contract on upgrading the port worth 38 million U.S. dollars in mid-April, beating competition from four leading European companies.