Bid for purchase of Port of Novi Sad by Dubai-based company incomplete

The only bid for the Port of Novi Sad, made by P&O Ports Dubai, is incomplete, TV N1 learns.

The only bid was opened at the Ministry of Economy, but when the documentation was examined, the commission determined that the bid was incomplete.

The procedure is for the ministry to officially notify the competent authorities in the UAE of this and request additional documentation.

The Port of Novi Sad was first put up for sale in September 2018 at the price of close to EUR 16 million.

As there were no bidders, a new tender opened at half the price. The public call was extended three times, and the final deadline expired on Friday, March 1, 2019.

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 three times.

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.

DP World ad Novi Sad

Ministarstvo privrede Republike Srbije

DP World

Port of Novi Sad

PO Ports Dubai

Ministry of Economy

purchase of Port of Novi Sad

sale of Port of Novi Sad