Global Ports Holding Selected as the Preferred Bidder for the Port of Bar’s Tender
08 July 2013
Global Ports Holding (GPH or the Company), 100% subsidiary of Global Investment Holdings, is currently the operator of three leading commercial and cruise ports in Turkey. The Company announced that it has been communicated, by the Tender Commission, the result of the tender for the Port of Bar, which was held by the Ministry of Maritime Transportation of Montenegro. GPH has been selected as the preferred bidder for the tender to operate, finance and repair the Port of Bar for a period of 30 years and is now invited to the process of contract negotiation.
The Port of Bar has a current maximum capacity of 1mnTEUs container and 6mn tons of general cargo; however, due to the lack of proper highway, underutilization of the railway network and insufficient infrastructure, the port is currently not being used to its full potential. Port of Bar used to be the main port of the Federal Republic of ex-Yugoslavia, and as such GPH’s initial plan is to attract back the trade traffic of Serbia, Kosovo, Albania, Macedonia and Bulgaria. The port will then have the chance to replicate the success of the past years and continue growing in the region.
GPH as the preferred bidder for the tender to acquired the unlisted 62.09% of the Port of Bar for 30 years with the the rest of the shares remaining in public trading.
www.globalyatirim.com.tr
www.globalports.com.tr
For Further Information
investor@global.com.tr
About GIH:
Global Yatırım Holding A.Ş. (Global Investment Holdings) was regrouped as a holding company on October 2004 (www.globalyatirim.com.tr) to hold a diversified portfolio of investments in a number of businesses, including infrastructure, real estate, energy, and financial services. Global Investment
Holdings is listed on the Borsa Istanbul (as “GLYHO.IS”) and utilizes its experience in the finance sector, for industrial business opportunities.
About Global Ports Holding:
Global Ports Holding (Global Port) was established to utilize the commercial opportunities in Turkey and Mediterranean area and opportunities in cruise ports.
Global Ports Holding is a unique port group and operator in Turkey, currently managing three leading cruise and commercial ports in its portfolio. Since 2003, the Global Ports Group has developed a portfolio of strategically located ports in Turkey, each providing exceptional hinterland access with strong market demand fundamentals. Global Port is the largest port operator having %50 of cruise port sector of Turkey on the basis of number of cruise passengers received in 2011.