P&O Ports will be taking over operations in the port of Novi Sad (Serbia), as part of a long-term plan to create an efficient multimodal center.
Thanks to a Public-Private Partnership agreement to operate the port, P&O Ports plans to upgrade equipment and services, while supporting the Serbian Government’s strategy for a logistics center with rail, road and inland waterways links to other European ports.
As part of the agreement, P&O will have the right to handle port operations in Novi Sad for 25 years, with an option to extend the contract for another 25 years.
The State Secretary of the Ministry of Economy (Dragan Stevanovic) and the P&O Ports Chief Executive Officer (Rado Antolovic) signed the document for obtaining the property rights on the capital and assets of the port operator of the Port of Novi Sad, which comes one year after a Memorandum of Understanding.
The Danube river port of Novi Sad is located on a 24 hectare site and has an estimated throughput of around 1 million tons per year. P&O Ports will retain the rights to undertake all waterside operations, container handling, along with project cargo and fertilizer activities. The 500 meter-long quay includes cargo handling, warehousing facilities, storage of bulk cargo and general cargo connections to the national railway network.
The development plan will focus on building 189 meters of new vertical quay wall, along with new silos, handling equipment and refurbishing existing machinery. Furthermore, the project also mentions a terminal operating system.