ICTSI signs 30-year Croatian concession

Nominated as the preferred bidder in late 2010, ICTSI has concluded negotiations with LR, paying €15m (US$21m) for a 51% shareholding in the facility. The deal represents the successful conclusion of a major infrastructure project by the Croatian Government.

With plans to invest over €70m (US$98m) during the initial phase of the concession, this is ICTSI’s first venture into Croatia and the largest Philippine investment in Southeast and Central Europe. Key investments include new super post-Panamax quay cranes, high-density rubber tyred gantries (RTG) and other mobile handling equipment.

The terminal will also be provided with comprehensive vessel operations and container terminal management systems, including automated gates and security systems among others.