REUTERS Ukrainian Infrastructure Minister Vladyslav Kryklii has announced Kherson&#39;s Commercial Sea Port was on June 26, 2020, transferred to an investor on concession terms. "This will ensure stable development, existing and new jobs, the welfare of the entire city and the region, and favorable conditions for economic growth," he wrote on Telegram. "LLC Risoil-Kherson, a concession operator, is investing about UAH 300 million (US$11.2 million) in the development of the port. Over UAH 18 million (US$674,410) will also be invested in local infrastructure," the minister said. Read alsoUkraine&#39;s infrastructure ministry invites U.S. companies to take part in concession projects "The concession deal was struck for 30 years, but the concession operator is committed to ensure the port&#39;s freight transshipment at 1.36 million tonnes the lowest as early as in 2030," Kryklii added. According to the official, Risoil-Kherson is obliged to increase the share of cargo going to the port by rail, inland water and other types of transport, except by road, up to 80%. The company also co-finances an overhaul of access roads to the port and a new truck parking area at the entrance to the city. "The concession of the port of Olvia will be signed soon, while the port of Chornomorsk is the next concession project," Kryklii said. As UNIAN reported earlier, LLC Risoil-Kherson had won a tender to operate Kherson&#39;s Commercial Sea Port on concession terms. Ukraine&#39;s Infrastructure Ministry on September 12, 2019, announced tenders for the transfer of assets of the state-owned enterprises Olvia stevedoring company and Kherson&#39;s Commercial Sea Port, as well as those of the state-run Ukrainian Sea Ports Authority (USPA) to management on concession terms. The Olvia port&#39;s concession is to last 35 years, while that of Kherson&#39;s Commercial Sea Port 30 years.