Dubai-based company’s bid for Port of Novi Sad incomplete

The only bid for the acquisition of the Port of Novi Sad, submitted by P&O Ports based in Dubai, is incomplete – TV N1 learns.

The only bid was opened at the Ministry of Economy, but when the documentation was examined, the relevant commission determined that the bid was incomplete.

The next thing to do is for the Ministry to officially notify the competent authorities in the UAE of this and request additional documentation.

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The Port of Novi Sad was first put up for sale in September 2018 at the price of close to EUR 16 million.

As there were no bidders, a new tender was launched and the Port was offered at half the price. The public call was extended three times, and the final deadline expired on Friday, March 1, 2019.

Only those companies that have been engaged in port activities in the preceding ten years continuously, with an income of at least EUR 30 million in 2017 and an annual reloading amount of 1.4 million tonnes in the preceding three years were eligible to apply.

The initial price at the previous tender was twice as high, EUR 15.98 million, but there were no bids for the purchase of a 99.4% stake of the company, even though the deadlines were extended three times.

The Port of Novi Sad reloads around a million tonnes of goods a year, and its capacities exceed 2.5 million tonnes. It has close to 150 employees and for the past four years, the company has been profitable.

(N1, 06.03.2019)



This post is also available in: Italiano

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