The Polish group OT Logistics (OTL), the only bidder for the privatization of 30% of the state ownership of the Port of Bar, is planning considerable investments, including the establishment of the Baltic-Adriatic corridor. This way, the time needed to transport goods from Gdynia to the Mediterranean would be shortened from eight to six days.
OT Logistics submitted the EUR 7.1 million bid on December 21, 2016. A three-year investment program was also offered, worth a total of EUR 17.1 million.
Through OTL projections for the period up till 2021, Bar has been placed within the global network of this business group, which plans to connect the regions of the Baltic and the Balkans by railway and connect them further to the Middle East and Africa. OTL manager Jiri Majewski said that new opportunities for business development lay on the Balkans, the Middle East and Africa.
– The Warsaw Stock Exchange has been notified that we wish to reach a turnover of EUR 1 billion in five years. OTL wants to become the number one provider of services and logistics in the Baltic Sea and the Adriatic Sea. We want a strong position on the Adriatic coast, where we own 20% of the Port of Rijeka stake – Majewski emphasizes.
Jan Nowak, the executive director of the Port of Gdyinia and the OTL board member in charge of ports, said that the company's plan is to become the leader in providing agricultural products transportation services, especially the transportation of wheat on the Baltic and the Adriatic.
– Our services are used by the biggest exporters of wheat in the region – Russia, Kazakhstan, Ukraine and the EU, as well as the biggest importers – North Africa and the Middle East – Nowak clarified.
The Polish party does not wish to disclose its intentions while the negotiations are in progress. They do not hide, however, that they are planning a thorough reconstruction of the Port of Bar to the end of enabling the transport of goods by even the largest Panamax boats.
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