Polish Firm OT Logistics Buys into Port of Rijeka
- New Europe Investor
- July 20, 2015
Polish transportation, shipping and logistics firm, OT Logistics has purchased a stake in the Port of Rijeka in Croatia.
According to the Croatian Minister for Maritime Affairs, Jajdas Doncic, OT Logistics is acquiring a 17% to 18% stake in the port.
According to Croatian newspaper, Novilist, the Port of Rijeka is badly in need of a capital injection for modernisation. 352 million kuna (€46 million) is needed for renovation of the terminals at the port.
The amount OT Logistics stake has raised in the recapitalisation for the port is currently unknown. Other new investors include part of current employees.
The introduction of Polish investors has pleased the Croatian minister. He stated that the competitiveness of the Port of Rijeka as a major hub for shipping will now increase.
The Port of Rijeka is Croatia’s largest and busiest shipping port. Currently it employs around 1000 people.