PKP Cargo wants to acquire Port Gdański Eksploatacja
22:35
Poland’s largest rail freight carrier, PKP Cargo, is looking to expand its holdings by acquiring Port Gdański Eksploatacja (PGE), Dziennik Gazeta Prawna reported. The port has eight docks, a surface area of 100 hectares and is mainly used for ore and coal shipments. It is no surprise then that PKP Cargo’s partner in the bid is coal exporter Węglokoks.
This acquisition would allow PKP Cargo to avoid queues and costly intermediaries at the dock. PKP Cargo’s revenue last year was PLN 4.8 million. Węglokoks has yearly revenue of PLN 2.9 million. Since 2005, the dockyard in question has shown a profit – last year this was PLN 7 million with revenue of PLN 85 million.
The dockyard employs around 500 workers.
There is competition for the offer, including MTMG from Gdynia, owned by French logistics giant, Atic Services. Also in the running are Erontrans, Rhenus Port Logistics and Mariner Capital Limited from Malta.
