EBRD considering to finance Euroterminal Odessa project
The EBRD is considering to finance the construction of a logistics service centre on a 50-hectare land plot located north of Odessa in the city’s industrial zone.
It will provide several logistic functions which will support an integrated extension of the existing container handling facilities in the Odessa Sea Port. The logistics centre will consist of four main facilities:
(i) Customs Terminal;
(ii) TIR Parking Lot;
(iii) Internal Road;
(iv) Container Depot.
The Project represents much needed private sector involvement in developing the port infrastructure in Ukraine. It will be the first integrated logistics centre in Ukraine built specifically for the purpose of processing containers on shore, which will contribute to greater efficiency and competition in the market and set a benchmark for development of the similar facilities in other ports. The Project Company will prepare financial reporting based on IFRS and implement procurement procedures that will promote transparency and best commercial practice. In addition, the project introduces standards of operation, including environmental and safety matters in line with national and EU guidelines.
The Project is implemented by Euroterminal LLC, a company registered in Ukraine, which will be the Borrower of the loan funds.
EBRD finance: A senior loan of up to US$ 27 million (equivalent to EUR 19.1 million) to be co-financed with the European Investment Bank (EIB) on a parallel basis.
Total project cost: US$ 38 million.
It will provide several logistic functions which will support an integrated extension of the existing container handling facilities in the Odessa Sea Port. The logistics centre will consist of four main facilities:
(i) Customs Terminal;
(ii) TIR Parking Lot;
(iii) Internal Road;
(iv) Container Depot.
The Project represents much needed private sector involvement in developing the port infrastructure in Ukraine. It will be the first integrated logistics centre in Ukraine built specifically for the purpose of processing containers on shore, which will contribute to greater efficiency and competition in the market and set a benchmark for development of the similar facilities in other ports. The Project Company will prepare financial reporting based on IFRS and implement procurement procedures that will promote transparency and best commercial practice. In addition, the project introduces standards of operation, including environmental and safety matters in line with national and EU guidelines.
The Project is implemented by Euroterminal LLC, a company registered in Ukraine, which will be the Borrower of the loan funds.
EBRD finance: A senior loan of up to US$ 27 million (equivalent to EUR 19.1 million) to be co-financed with the European Investment Bank (EIB) on a parallel basis.
Total project cost: US$ 38 million.