Market testing announced for the Outer Port Project in the Port of Gdynia
Port of Gdynia Authority S.A. announced the launch of a market test of private partners and financial institutions for the purpose of the planned project named “Construction of the Outer Port in the Port of Gdynia” under the Public-Private Partnership scheme.
This project is a strategic investment of the Port of Gdynia Authority S.A., enlisted in the Polish government’s Seaports Development Programme. The project involves the construction of a new deep-sea port terminal together with a container terminal with an annual transshipment capacity of 2.5 million TEU. The new facility will enable oceanic Baltimax size container ships to dock in the port.
The estimated capital expenditures for the Outer Port total EUR 787 million. The project is scheduled for completion by 2028.
The preferred scheme of project delivery is the Private-Public Partnership, with the private partner: designing and building the project infrastructure; financing the design and construction expenditures; maintaining and operating the infrastructure built or part thereof; in this regard, demand level risk might possibly be shifted onto the private partner and a payment mechanism based on revenues from the operation and management of the terminal might be implemented.
It is one of the largest PPP project planned for implementation in the near future in Poland.
This market testing is part of the project appraisal carried out by a consortium of transaction advisors, namely EY, WYG International and Domański Zakrzewski Palinka (DZP). Its purpose is to assess the market’s potential interest in the project and to verify its preliminary assumptions proposed by the Port of Gdynia Authority S.A. and the transaction advisors.
"We seek to establish cooperation with experienced private partners and financial institutions. Accordingly, we would like to invite all entities that have implemented the following projects (individually or as a Consortium) to take part in the market test: operation (or management) of a maritime container terminal (or container terminals) with an annual capacity of at least 1 million TEU; or operation (or management) of a maritime LNG terminal (or terminals) with an annual capacity of at least 5 billion Nm³; or operation (or management) of other cargo terminal (or terminals) with an annual capacity of at least 10 million tonnes ; or financing the implementation of an infrastructure project worth at least EUR 250 million delivered under the PPP scheme or a concession, another form of partnership with the public sector or a project finance scheme", says the statement.
