Luka Novi Sad Port Privatisation

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The project involves privatisation of 99.37763% stake in Luka Novi Sad AD, which is the operator of the Novi Sad Port on the Danube river in Serbia's 's northern autonomous province of Vojvodina. The public invitation for bids by the Ministry of Economy ended on 1 March 2019 with one bidder submitting an offer - P&O Ports FZE (Dubai, UAE), a company 100% owned by the Government of Dubai. On 10 May 2019 P&O Ports signed a contract to acquire 99.37763% or 8,151,174 shares in Luka Novi Sad from Republic of Serbia for a purchase price of EUR 7,988,389 or $ 8.95 million. In addition, P&O Ports will invest EUR 30 million or $ 33.61 million to improve the port operations and will operate the port for a period of 25 years with a renewal option for further 25 years. The throughput of the port capacity is expected to be increased from the current 1.2 million tonnes to 2.5 million tonnes per year. The port operates 10 indoor warehouses with a total area of 45,968 square meters. http://www.priv.rs/Javni-pozivi/12358/Potpisan-Ugovor-o-prodaji---LUKA-NOVI-SAD-AD.shtml https://seenews.com/news/po-ports-signs-deal-to-buy-serbias-novi-sad-port-operator-for-8-mln-euro-653578 https://www.mgsi.gov.rs/cir/aktuelnosti/mihajlovitsheva-posle-30-godina-nove-investicije-u-razvoj-luka https://gulfnews.com/business/po-ports-appointed-as-operator-of-port-of-novi-sad-serbia-1.63868218