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Home/News/New owner of Port of Novi Sad to double investment

New owner of Port of Novi Sad to double investment

The new owner of the Port of Novi Sad will invest 30 million euros in the company, doubling an investment stipulated by the privatization contract

This was announced by P&O Port Dubai CEO Rado Antolovic after Friday’s signing of the contract. He said the money would be invested to ensure a high level of operations at the port.

“This agreement is another example of our strategy of offering additional services across the global supply chain, creating customer efficiency and support to the development of the country. By connecting with our operators across Europe, we can ensure added value to the Port of Novi Sad,” Antolovic said.

Expressing satisfaction with the successful completion of the privatization process, Serbian Minister of Construction, Transport and Infrastructure Zorana Mihajlovic said this was a first major investment in the Serbian water transport sector in over 30 years.

She pointed out that it was important news that the new owner would invest twice as much as his obligation under the privatization agreement.

“When we talk about infrastructure, we are always talking about railways, airports and roads, and we are continuously putting aside our water corridors. At least that has been the case in the past decades,” Mihajlovic said and announced that the government will invest 200 million euros to arrange the Danube and Sava, as well as port infrastructure.

She added that investments in the ports of Smederevo, Belgrade and Sremska Mitrovica will follow.

Source; B92