ZAGREB, 5 Nov 2021 - An agreement on a concession to develop and commercially use the Zagreb Deep Sea container terminal in the Port of Rijeka, estimated at HRK 20 billion (€2.7 billion), with the concession fee fixed at €2 million annually for a period of 50 years, was signed in Rijeka on Friday.

The agreement was signed by Rijeka Port Authority head Denis Vukorepa, the director of the international terminal operator APM Terminals, Morten Engelstoft, and Energia Naturalis Grupa Management Board chair Pavao Vujnovac on behalf of the concession holder ENNA Logic of Croatia.

The concession holders undertake to build the necessary infrastructure and fully equip the Zagreb Deep Sea container terminal, including building another 280 metres of pier and its equipment, and they also guarantee container turnover of one million units in the first two years of the terminal's operation.

Phase 1 of the Zagreb Deep Sea terminal, with 400 metres of pier and a sea depth of 20 metres, was completed as part of the Rijeka Gateway project in May 2019. The public opening of bids for a concession to operate the terminal was held in May 2021, and an offer by APM Terminals and ENNA Logic was assessed as valid, after which the Rijeka Port Authority Management Board in June decided to award the concession to operate the terminal to the consortium of the two companies.

Prime Minister Andrej Plenković, who attended today's signing of the agreement, said it successfully wrapped up long-lasting efforts regarding the Rijeka Gateway project.

"The agreement will create conditions for the Rijeka Port to take the role of the leading cargo port in the northern Adriatic, thus becoming the most important point of entry to Central and Southeast Europe," said Plenković.

The terminal means an opportunity for economic development and is important also because of strategic autonomy, Plenković said, adding that the government would continue investing in infrastructure projects, notably those that bring long-term economic benefits.

Sea, Transport and Infrastructure Minister Oleg Butković said the agreement would make the Port of Rijeka the most important intermodal centre in the northern Adriatic.

Once the Zagreb Deep Sea terminal starts operating in 2025, the container turnover in the Port of Rijeka will reach one million units, and by 2028 it will reach 1.5 million units, Butković said, noting that with that, Rijeka would overtake the Slovenian port of Koper.

Construction work on the D-403 road, which is to connect the terminal with the Rijeka ring road, is proceeding well, he said, adding that another important project is the construction of a lowland railway from Rijeka towards Croatia's interior and expressing hope it would be completed in about ten years.

Rijeka Port Authority director Vukorepa, APM Terminals executive director Engelstoft and Energia Naturalis president Vujnovac underlined the importance of the Rijeka Gateway project for the development of Rijeka and Croatia, with Vujnovac noting that along with the lowland railway, the Rijeka Gateway project was the most important national project connecting Rijeka and the country's interior.

It will secure the flow of large quantities of cargo thus enabling economic growth, he said, adding that it would make Rijeka an important spot on port maps.

For more on business, CLICK HERE.

Construction of a new container terminal at the port of Rijeka will cost nearly 4 million euros. While the project has already been extended, the new plan should have the construction of the terminal completed by December 15, 2018.