DP World to invest millions into Port of Novi Sad

NEWS 27.09.2019 20:50
Source: N1

DP World spokespeople said on Friday that the company would invest more than 35 million Euro into the Port of Novi Sad.

That port was the last to be privatized in Serbia and was bought by the company from the United Arab Emirates three months ago. The sale of the port was opposed by experts and part of the ruling coalition in Novi Sad.  

Speaking during a tour of the port with Serbian Infrastructure Minister Zorana Mihajlovic, DP World shareholders’ spokesman Rado Antolovic said that the investment will be made in two stages up to the year 2025. “We have 150 people today but that’s just the start,” he said.  

The company is planning to increase the port’s capacities and introduce new services.  

According to Minister Mihajlovic, DP World is the first foreign company to invest in water-based traffic in Serbia which she said had been neglected in the past.  

Antolovic refused to comment reports that the former management had paid themselves millions of Dinars before they left, saying it was just bad management while Novi Sad Mayor Milos Vucevic said the whole thing should not be brought into connection with his ruling Serbian Progressive Party (SNS).