COSCO Eyes Investment in Croatian Port of Rijeka

Chinese shipping giant COSCO is interested in investing in Croatia’s main Adriatic port of Rijeka.

COSCO chairman Wei Jiafu said: “It is interesting for us in terms of (getting a) concession to manage Rijeka port, on the northern Adriatic coast.”

He spoke after a COSCO delegation met with the Prime Minister Zoran Milanovic to discuss their interest in Rijeka which they hope could serve as China’s main link with central Europe and significantly shorten transport time for Chines products destined for the region.

There have not been any Chinese investments in Croatia so far but that is likely to change as Croatia is due to enter the European Union next year.

Last week, the Rijeka Port Authority signed an agreement to build a brand new container terminal in Rijeka Port. The terminal, scheduled for completion in 2017, will be one of the main components of the Rijeka Gateway project, which aims to modernize the Port of Rijeka.

[mappress]

World Maritime News Staff, April 25, 2012; Image: COSCO