Agreement on sale of Port of Novi Sad to P&O Port Dubai for EUR 7.99 million signed

The agreement on the privatization of the Port of Novi Sad was signed today, May 10, at the Government of Serbia by the state secretary at the Ministry of Economy, Dragan Stevanovic, and the CEO of P&O Port Dubai from the UAE, Rado Antolovic.

The company operates within DP World, the third biggest port operator in the world.

The commission of the Ministry of Economy for the execution of the procedure of the privatization of the Port of Novi Sad declared the financial offer of P&O Port Dubai for the purchase of the Novi Sad-based company successful in late March. The port was sold at the initial price of EUR 7.99 million.

According to the agreement, the plan is for investments in this port to exceed EUR 15 million over the next three years, around EUR 5 million of which will be invested in the port infrastructure, whereas around EUR 10 million will be invested in the port suprastructure.

DP World carries out projects in 41 countries on six continents, has over 35,000 employees, and its 2018 income exceeded USD 4 billion. This is the third biggest port operator in the world, and their arrival to Serbia will mark their first project on the Danube.

The goods reloading capacity at the Port of Novi Sad is 2.5 million tons, and it was able to reload around 1.2 million tons. Under the privatization agreement, the number of employees at the company should stay at the current number of 150.

The agreement was signed in the presence of Serbian Construction, Transport and Infrastructure Minister Zorana Mihajlovic and Mayor of Novi Sad Milos Vucevic.

DP World ad Novi Sad

DP World

Vlada Republike Srbije

Ministarstvo privrede Republike Srbije

Ministarstvo građevinarstva, saobraćaja i infrastrukture Republike Srbije

Grad Novi Sad

Port of Novi Sad

P O Port Dubai

PO Port Dubai

DP World

Government of Serbia

Ministry of Economy

Ministry of Construction Transport and Infrastructure

City of Novi Sad

Zorana Mihajlovic

Milos Vucevic

Rado Antolovic

Dragan Stevanovic

sale of Port of Novi Sad