POLAND's Port of Gdynia Authority along with the Ministry of Investment and Economic Development have selected the transactional advisor to provide consulting services for the deep-water outer port project that is to be built through a public-private partnership.
The plan calls for a deep-water outer port to be built on artificial land near the existing quays of Slaskie and Szwedzkie, to increase the port area by 151 hectares and its cargo handling capabilities by 2.5 million TEU in an effort to boost its competitive position in the Baltic Sea region.
The offer, filed by contractors acting together, ie, Ernst & Young, Domanski Zakrzewski Palinka (DZP) and WYG International, was selected during the proceedings.
The advisor will be responsible for addressing the project's economic, financial, legal and technical issues. Cooperation with an experienced advisor is expected to result in the selection of the best private partner to carry out the project, reported St Petersburg PortNews.
Subsequent investment stages could not happen without port-related legislative support. In August a special law was passed regarding the building of outer ports. The goal is to facilitate the efficient completion of investments in seaport development projects. According to the ministry, without the new law the process of preparing such investments would take seven years, but thanks to the act it will be reduced to three to four years.