ICTSI completes transaction, takes over Croatian terminal

By: | at 08:00 PM | Ports & Terminals  

The flag of Adriatic Gate Container Terminal (AGCT) has been raised symbolizing the completion of the transaction between Luka Rijeka. d.d. and International Container Terminal Services. Inc. (ICTSI) and ICTSI’s formal takeover of AGCT operations.
ICTSI is the new majority shareholder in AGCT selected following a highly competitive bidding process.

“We are pleased to complete the transaction,” said Manuel (Manny) Fernandez, ICTSI Senior Vice President for Europe, the Middle East and Africa. He added: “We have undertaken comprehensive planning over recent weeks, and will now progressively move to implement works to upgrade the terminal and its service capabilities. New quayside and landside cranage, mobile equipment, vessel planning and terminal management systems, a new terminal entrance with direct access to the highway and a wide range of other improvements are on the agenda. This is in addition to the new 300m deep draught quay (-14.5m) that is under construction and scheduled to come into service early in 2013.”

AGCT’s role is to function as a gateway terminal to the Balkans as a whole and to Hungary. In parallel with the development of AGCT, which will see an investment in the order of Euro70 million, the Croatian rail system between Rijeka and Zagreb is to be upgraded as well as liberalized to enable rail operations to take place. These developments, together with the introduction of new simplified Euro-standard Customs regulations, will complement the terminal investment and contribute to its larger role in the region.


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