HHLA takes share in Adriatic port of Trieste
Hamburger Hafen und Logistik (HHLA) has acquired stakes in a terminal of the Italian port of Trieste. It is taking a majority stake of 50.01 per cent in the Piattaforma Logistica Trieste terminal (PLT). An agreement was signed on Monday 28 September. With this investment, HHLA is positioning itself on the Adriatic Sea, which has been growing in importance as a southern gateway to Central and Eastern Europe.
The investment will be allocated contractually and organisationally to HHLA International GmbH. As a transport and logistics firm, HHLA’s core business is port operations, and its main port is Hamburg. However, this is not the first investment in a port abroad. HHLA also has stakes in Odessa (Ukraine) and Tallinn (Estonia). The transaction is subject to various conditions precedent and is expected to close in January 2021.
“The Adriatic region has been developing very dynamically in the past few years. As the northernmost port in the Mediterranean, Trieste is the southern gateway to Central and Eastern Europe. The investment is a strategic expansion to our existing port and intermodal network”, says Angela Titzrath, Chairwoman of HHLA’s Executive Board.
“The terminal gives us the opportunity to actively participate in and help shape new and changing cargo flows and underline our ambitions to grow internationally. At the same time, we will continue to enhance our terminals in Hamburg by investing in facilities and technology. We are a Hamburg company, at home in Europe and operating globally.”
The port of Trieste is important for rail freight transportation. The PLT terminal has its own rail connection. Metrans, a subsidiary of HHLA, already connects the Port of Trieste with its European intermodal network. The strategically relevant position of the Port of Trieste on the Adriatic allows for further development opportunities in hinterland transport.
Francesco Parisi, Chairman of PLT’s Executive Board commented: “HHLA’s participation strengthens the growth prospects of PLT and of the entire Port of Trieste. Our development strategy in the direction of Central and Eastern Europe fits in with HHLA’s orientation. The position of the new partners confirms us in the development of the terminal expansion we are pushing ahead with.”