Poland’s Central Port PPP sounds out global investors

18 September 2019 - 12:00 am UTC

Poland’s Port of Gdansk Authority is sounding out the market for a EUR 3bn (USD 3.3bn) public-private partnership, according to a senior official.

 

The authority is seeking global investors – including from Asia – for the Gdansk Central Port project, Mateusz Dawidowski, the agency’s chief China representative, said in a project pitch session in Hong Kong late last week.

 

The project – which will be carried out in the BOOT (Build-Own-Operate-Transfer) mode – will have a new quay with two berths. Environmental research will finish by 2021 and construction of the first phase will take place between 2022-2029, according to a document provided by Dawidowski. 

 

It will cover an area of 405 hectares and the berths will add up to 20km. The port will require dredging works of 48.3million cubic metres. Phase 1 will feature a cereal terminal, the first stage of a container terminal, a passenger terminal, a roll-on/roll-off and automotive terminal, a container depot, a harbor for shipping service vessels, a local traffic control centre with an estimated construction time of four years. About two-thirds of a total 8.3km of breakwaters will be built. 

 

The second phase will involve construction of 3.4km of breakwaters, phase 2 of the container terminal, a universal terminal, a chemical terminal, a shipyard and an offshore terminal. The third phase will have an LNG terminal, an LNG power plant, as well as warehouses and other production and storage facilities, with an estimated construction period of six years.

 

The Port of Gdansk Authority in July announced that it has hired DS Consulting – a Gdansk-based consultant which provides financial and investment advice on infrastructure projects including PPPs – to advise on its procurement of the Central Port PPP.

 

New plans

The authority is seeking international developers for new terminals to be built around the port zone, following the DCT Gdansk Container Port PPP sale to a PSA-led consortium for up to EUR 1.3bn completed in April.  

 

The agency welcomes interest from Chinese port contractors and operators in building and investing in bulk cargo, cereal and general cargo terminals, Brigitte Zhang, assistant to the port authority’s chief China representative, told Inframation. 

 

It is in talks with some Chinese port companies, she added. China Merchants and COSCO both were bidders in the sale of the DCT Gdansk Container Port, but they lost out to Singapore’s PSA.

 

While the Polish government has obtained sufficient funding from the EU for the development, it would still be open to equity stake purchases by the contractors and operators, Zhang said.

 

A representative for China Merchants declined to comment, while COSCO did not respond to requests for comment.

 

Read more