skip to Main Content
Hungary Invests In Trieste – New Multipurpose Terminal Planned

Hungary invests in Trieste – new multipurpose terminal planned

Hungary Invests In Trieste – New Multipurpose Terminal PlannedSource: Adriaports

Trieste, Italy (PortSEurope) July 8, 2019 – A Hungarian public company has acquired an area at Noghere (the former Aquila area), Trieste port, of 320,000 m², from two Italian private businesss, Teseco and Seastock, for €31 million, which should lead to the construction of a new multipurpose terminal, a further investment of €100 million.

The agreement was signed by the Friuli Venezia Giulia (Fvg) Region in the presence, among others, of Deputy Prime Minister Matteo Salvini and Hungarian Foreign Minister Péter Szijjártó, and of the President of the Fvg Region Massimiliano Fedriga.

The agreement increases the role of the port of Trieste and consolidates the commercial relationship between the two countries.

Last month, Péter Szijjártó, Minister of Foreign Affairs and Trade, said that €60-100 million ($68.3-114 million) would be invested in a 32-hectare area for which a land purchase agreement is scheduled to be signed next month.

The plan is part of a strategy for the renewal of infrastructure in Hungary, which aims to develop its transport system, especially at the railway level. Péter Szijjártó has specifically observed how still missing a high-speed train in Central and Eastern Europe. A necessity now perceived as urgent, especially in light of Chinese investments.

If Trieste is the “end-port” of the new Silk Road in the West, Hungary in turn should be the gateway to the central-eastern market. In this sense, the government sees it as fundamental to collaborate with Trieste and Friuli Venezia Giulia Region.

An Italian-language press release from Autorita’ di Sistema Portuale del Mare Adriatico Orientale (AdSP – Eastern Adriatic Sea Port Authority) can be read here.

Copyright (C) PortSEurope. All Rights Reserved. 2019.

Back To Top