The Ministry of Infrastructure, the Seaports Administration, Risoil-Kherson SPV and the Port of Kherson have signed the transfer of the 30-year concession for the Kherson Seaport in Ukraine. 

Under the terms of the concession agreement, the concessionaire is responsible for:

• paying the Government an annual concession fee of at least 12 million UAH (subject to indexing) and 7% of the net profit of the concessionaire;
• investing UAH300 million, including UAH216 million during the first 3.5 years;
• ensuring a minimum volume of cargo handling of at least 1.36 million tons in 2030;
• ensuring continuous operation of the port;
• engaging all current employees of Risoil-Kherson LLC and some of the employees of SE “Ukrainian Sea Ports Authority”, without firing them within the next 5 years;
• not reducing the wages of the employees for at least 3 years;
• complying with the requirements of environmental legislation and taking measures to protect the environment.