ICTSI to operate Adriatic container terminal in Croatia

THE Manila-based International Container Terminal Services Inc (ICTSI) has won a 30-year contract for the management, operations and development of a container terminal in the Port of Rijeka, Croatia's principal seaport on the Adriatic.


ICTSI and the existing concession holder Luka Rijeka (LR), a marine services and logistics provider in Croatia, signed a 30-year strategic partnership for the management of the Adriatic Gate Container Terminal (AGCT), which is a unit of LR and the terminal operator of the Bradjica container terminal in Rijeka. As part of the deal, ICTSI purchased a 51 per cent stake in the AGCT for EUR15 million (US$21 million), a company statement said.


The Manila-based port operator said it landed the contract for the major infrastructure project by the Croatian government after participating in a public tender.


AGCT plans to invest EUR70 million during the initial phase of the concession. Key investments include new super post panamax quay cranes, rubber tyre gantry cranes and other mobile handling equipment, comprehensive vessel operations and container terminal management systems, automated gates and security systems.


"The expertise and cooperation of the two companies will provide strong logistical support, and open new opportunities for the Port of Rijeka in the central and south eastern European markets," said Denis Vukorepa, Luka Rijeka management board chairman.


This development comes as Bradjica container terminal, which will be named Adriatic Gate Container Terminal to bear the same name of the operating company, is undergoing an intensive modernisation programme 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 link 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 of its draft to 14.5 metres. The terminal's container yard is being expanded to accommodate 600,000 TEU in annual capacity.


Aside from serving Croatian trade, the terminal is being primed to be the trading gateway for Hungary, Czech Republic, Slovakia, south Poland, Serbia, and Bosnia and Herzegovina, all of which are natural hinterlands for the Port of Rijeka.
(Source:http://www.schednet.com)