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Polish port facilities to attract minimally PLN 400m in FDI in coming years


2011-03-16



Foreign investors will pour at least PLN 400m (approx. €100m) into port facilities in Gdansk, Gdynia, Szczecin and Swinoujscie in the coming years, as earlier projects are expanded, new ones get underway and more assets are being transferred into private ownership, according to a survey by Rzeczpospolita.

Thus, Sea-Invest, a Belgian operator of port terminals which owns Gdansk's Northern Harbour (PP), has increased to €50m from €41m the estimated value, and by 30 hectares or nearly 60% the total size, of an ongoing project to build a Dry Bulk Cargo Terminal (TSLM) in the Gdansk harbour. The facility is scheduled to come online in 2013, with total handling capacity of 5-6 million tons.

Meanwhile, the port authority of Gdynia is in the final stages of selling the Marine Bulk Terminal (MTM) to Attic Services of France, in a deal whose estimated value is unofficially put at several tens of millions of zlotys. And later this year the authority will put up for sale its haulage firm and a 50% stake in the Baltic Bulk Base (BBM). Overall the Gdynia port authority aims to raise more than PLN 100m (€24.8m) from asset sales in 2011. In 2012 it plans to sell off the LCL Terminal (TD).

Investment activity is also taking place at the Western ports of Szczecin and Swinoujscie. Thus Bunge, a large US agribusiness and food company, will in June open a PLN 20m (€5m) cereals terminal in the Swinoujscie harbour; Elewator Ewa, a company part-owned by Glencore, the leading commodities producer and trader, is in the middle of a PLN 25m (€6.2m) expansion of its grain silo in Szczecin, the largest facility of this type on the Polish coast; and the company that manages both harbours is in advanced talks with two foreign investors, from Britain and Germany, about greenfield investments there. The project by the German firm is worth €28m. Letters of intent are to be signed shortly.

The news highlights growing interest among foreign investors in Polish sea port facilities, which have enjoyed a steady rise in business in recent years. In December Goodman, the Australian integrated property group, announced plans for the construction of a 109-hectare complex of warehousing, production and storage facilities just off Gdansk’s Northern Harbour, in what is billed as the largest logistics project in Northern Poland.

See also the news item ‘Ukrainian firm to expand factory of wind towers in Gdansk’.



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