KIEV, June 11 – President Viktor Yanukovych has signed a law on seaports permitting leasing or concession of port moorings for up to 49 years.

The law guarantees private ownership rights to moorings built using private investments in the period until the law takes effect. The moorings are to be registered in the hydraulic work register and the draft permits new moorings built by private investors to be held in private ownership.

It is proposed to establish that moorings under state ownership using private funds are built on a compensation basis.

The document also facilitates the allocation of land plots owned by individuals or companies to develop or build new seaports.