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Hungary Invests In Trieste Port As Export Guarantee

Hungary invests in Trieste port as export guarantee

Trieste, Italy (PortSEurope) June 30, 2020 – Hungary’s state-owned Adria Port zrt has purchased 302,000 m² of land at Trieste port to develop a facility so it can guarantee exports of locally-made goods. The area covers 32 hectares and has a 300-metre coastline. The former headquarters of the L’Aquila oil plant was sold by the Italian companies Teseco and Seastock, will be developed into an import and export platform
capable of guaranteeing maritime exit within 24 hours from Hungary. A total of around €100 million will be invested in land purchase, environmental safety and the construction of a new multifunctional terminal. The project was initially announced last July and will provide an export route to the Mediterranean region and the Far East. The Friuli Venezia Giulia Region mediated with various partners including Autorita’ di Sistema Portuale del Mare Adriatico Orientale (AdSP – Eastern Adriatic Sea Port Authority) as it seeks to develop Trieste port role in global trade. Despite agreements with China last year, the port has fallen behind Greek rival and Chinese COSCO-managed Piraeus port which is expanding to become the leading Mediterranean cargo port. Copyright (C) PortSEurope. All Rights Reserved. 2020.

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