President Ivo Josipovic was in attendance, saying this investment, despite opposition, showed that "sound entrepreneurial spirit" existed in Croatia, that this was the first such terminal on the Croatian coast and that the investment confirmed the importance of Croatia's geographical position.
This is the first big step in profiling Croatia as an important energy country, to be followed by the construction of the Adriatic-Ionian Pipeline (AIP) and a liquefied natural gas (LNG) terminal in Omisalj, Josipovic said, stressing that this was a completely new economic and geopolitical opportunity for Croatia. "We are on the right path to becoming Europe's energy gateway."
For that gateway to be wide open, Croatia needs infrastructure projects, primarily the AIP and its connection to the Trans Adriatic Pipeline and the LNG terminal in Omisalj.
PPD Board chairman Pavao Vujnovac said the Ploce terminal would open access to liquefied petroleum gas from other sources and that diversification of supply would contribute to market development and gas supply safety.
The terminal will extend over 24,461 square metres and have a storage area of 35,180 cubic metres or 17,000 tonnes.
The PPD Group became the biggest shareholder in Ploce Port last month, holding a 24.95% stake. The group and the port signed a concession agreement until 2055.
Ploce Port Board chairman Ivan Pavlovic said this was "the first real private investment in Croatian ports" and that PPD planned to build a terminal for oil products as well. "The total investment in both terminals is about EUR 60 million, of which EUR 40 million will be invested by PPD and EUR 20 million by us."
Port Authority director Desa Rathman said that over the next few years the port would expand facilities for liquefied gas, cargo, transhipment, and storage.