Turkish firm buys majority stake in Montenegro’s port

ISTANBUL

Turkish Global Ports has bought the controlling stake of the Port Bar. Company photo

Turkish port operator Global Ports Holding has acquired some 62 percent of Montenegro’s Port of Bar, which is not publicly offered, for 30 million euros. 

“A Turkish firm has thus acquired some controlling stake of a port abroad,” said the CEO of the company, Saygın Narin, via written statement. 

Some 40,000 containers could be handled in the port right now. “We could increase this capacity up to 1 million,” said Narin, adding the company planned to re-open the port to the use of Serbia to increase traffic. The company plans to build a logistics center in the port, as it contains large storage areas. Global Ports Holding also acquired a 23 percent stake in the Barcelona port operator Creuers del Port de Barcelona S.A. via a joint venture with Royal Caribbean Cruises, the parent company Global Investments Group said in a written statement on Nov. 13. 

Creuers has already managed the Barcelona Port, the biggest port in Europe, with a passenger capacity of 1.8 million, as well as having a majority stake in the Malaga Port and a minority stake in the Singapore Passenger Port.