Source: Beta | Tuesday, 05.03.2019.| 13:21
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P&O Port Dubai bid for purchase of Port of Novi Sad opened, commission assessing validity

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Illustration (Photo: dragi52/shutterstock.com)
The only bid for the purchase of the Port of Novi Sad, the initial price of which was around EUR 7.9 million, submitted by a Dubai-based company, has been opened today at the Ministry of Economy.

The UAE-based company P&O Port Dubai was the sole bidder for the purchase of the Port of Novi Sad, the only port in Serbia still owned by the state.

The privatization process commission will assess the validity of the submitted documentation, and if it meets the terms of the tender, the financial offer will be opened as well.

Eligible companies were those that had been performing 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 tons in the preceding three years. 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 twice.

The Port of Novi Sad reloads around a million tons of goods a year, and its capacities exceed 2.5 million tons. Around 150 people work at the company, whose operations have been profitable in the past four years.
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