ICTSI signs 30-year Croatian concession

International Container Terminal Services, Inc. (ICTSI) has signed a 30-year contract with Luka Rijeka d.d. (LR), Croatia’s largest marine services and logistics provider, for the management, operations and development of the Adriatic Gate Container Terminal (AGCT), a unit of LR and the existing terminal operator of the Bradjica Container Terminal in the Port of Rijeka, Croatia.


Nominated as the preferred bidder in late 2010, ICTSI has concluded negotiations with LR, paying €15m (US$21m) for a 51% shareholding in the facility. The deal represents the successful conclusion of a major infrastructure project by the Croatian Government.


With plans to invest over €70m (US$98m) during the initial phase of the concession, this is ICTSI’s first venture into Croatia and the largest Philippine investment in Southeast and Central Europe. Key investments include new super post-Panamax quay cranes, high-density rubber tyred gantries (RTG) and other mobile handling equipment.


The terminal will also be provided with comprehensive vessel operations and container terminal management systems, including automated gates and security systems among others.


Speaking at the signing ceremony, Enrique Razon Jr., ICTSI chairman and president, said the partnership with Luka Rijeka would improve container traffic and operations in the terminal, which would open up new opportunities for the Port of Rijeka.


The Bradjica Container Terminal, which will be named Adriatic Gate Container Terminal to bear the same name of the operating company, is undergoing intensive modernisation under the Rijeka Gateway Project. The project aims to improve the port’s competitiveness through the active participation of the private sector as well as linking Rijeka and the Balkan region to international transport corridors.


The project includes the extension of the terminal’s south quay to 330 metres and dredging to 14.5 m. The terminal’s container yard is being expanded to 600,000 teu annual capacity.


The Port of Rijeka is located in the northern part of Kvarner Bay and is the largest port in Croatia handling a wide variety of cargo.
(Source:http://www.container-mag.com)