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Business / Companies

CNBM signs contract with Croatian port Ploce

(Xinhua) Updated: 2014-09-27 09:53

ZAGREB - Chinese company CNBM International Engineering Co Ltd on Friday signed a contract with the Croatian Ploce Port, after the Chinese company was selected as the best bidder for equipping a new Bulk cargo terminal in the Adriatic port of Ploce.

The contract was signed by the President of the Board of Ploce Port Ivan Pavkovic and Vice-president Management Board of CNBM International Engineering Co Ltd Yang Jianqiang.

"This is the first significant investment of a Chinese company in Croatia ... CNBM, which is one of the biggest Chinese shipping companies, will be delivering equipment to Ploce Port company," Pavlovic said.

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"I expect this to be an impetus to other big Chinese shipping companies to come to Croatia and start cooperation with our ports in Ploce and Rijeka which can be access point for the Chinese goods to central European markets," Pavlovic said.

He believes that, in the long run, this is "very good and profitable business for Croatia".

The Bulk cargo terminal project, with the total value of 100 million euros (about $128 million), is a part of the realization of the construction and equipping of the Bulk cargo terminal through public-private partnership between Ploce Port and Ploce Port Authority.

The Ploce Port Authority is in charge of the construction of infrastructure, while Ploce Port company, as a concessionaire, has an obligation to purchase and install reloading equipment.

According to the terms of the contract, delivery and installment of the reloading equipment should not take longer than 24 months, but Pavlovic voiced expectation it could be done in 18 months.

Croatian minister of maritime affairs, transport and infrastructure Sinisa Hajdas-Doncic, who attend the signing ceremony, announced a tender for the construction of one remaining kilometer of the road directly to the terminal which will have an annual capacity of 4,6 million tons in the first phase of the construction.

"The terminal will also contribute to the importance of Croatia'a transport corridor, Vc highway," said Doncic.

Chinese ambassador to Croatia Deng Ying emphasized that this was the first time a Chinese company is exporting reloading equipment to Croatia.

"I am convinced this will be a successful project because CNBM is one of the most renowned Chinese companies specialized in the logistics equipment and construction," said Deng.

CNBM came out as the best bidder among 12 companies, mostly Europeans.

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