P&O PORTS APPOINTED AS OPERATOR OF PORT OF NOVI SAD, SERBIA
P&O Ports has announced a Public-Private Partnership (PPP) agreement to operate the port of Novi Sad, Serbia as part of a long-term investment plan to upgrade equipment and services and to support the Serbian government’s strategy to create an intermodal terminal and logistics centre with rail, road and inland waterways links to the rest of Europe.
The agreement shall grant a right to P&O Ports to operate Novi Sad for an initial 25 years with an option to renew by both parties for another 25 years on expiry. The SPA for obtaining the property rights on the capital and assets of the port operator of the Port of Novi Sad was signed today by Dragan Stevanovic, State Secretary of the Ministry of Economy and P&O Ports Chief Executive Officer, Rado Antolovic following a Memorandum of Understanding signed last year by Deputy Prime Minister Mrs. Zorana Mihajlovic and Mr. Sultan Ahmed Bin Sulayem, Chairman of P&O Ports.
The Port of Novi Sad is located on a 24-hectare site on the Danube river and it is operated by the last remaining port operator in the country owned and operated by the government with an estimated throughput of around 1 million tons a year. P&O Ports will retain exclusive rights to undertake all waterside operations, container handling, project cargo and fertilizer activities. The current quay is 500m long and features include cargo handling, warehousing facilities, storage of bulk cargo and general cargo connections to the national railway network. The development plan will include construction of 189 meters of new vertical quay wall, new silo capacities, new handling equipment and refurbishment of existing machinery plus installation of a terminal operating system. In partnership with the Serbian Ministry of Construction, Transport and Infrastructure the possibility of construction of the container terminals will also be considered.