Hungary Re-examines €200 Million Trieste Port Terminal Project

en.Wedoany.com Reported - On October 3, the Hungarian government is reassessing its Adria Port maritime logistics terminal project at the Port of Trieste in Italy, with the review covering the project's financial, technical, and market feasibility. Project management responsibility has been transferred from Hungary's Ministry of Foreign Affairs and Trade to the construction and transport authorities, and Adria Port CEO Péter Garai confirmed this management transfer. The next steps for project implementation will be determined after the review is completed.

The project's current total investment is estimated at approximately €200 million, higher than the estimate of approximately €100 million when Hungary completed the acquisition of the relevant assets in 2020. The Italian side plans to bear approximately €45 million in maritime infrastructure investment, and the relevant quay and dredging works are still underway.

The Adria Port project is located in the area of the former Aquila refinery in the southern part of the Port of Trieste, covering approximately 32 hectares, of which the logistics platform area is approximately 30 hectares, with a planned 650-meter shoreline and direct road and rail connections. The first-phase quay wall length is approximately 245 meters, with subsequent expansion continuing toward the full 650-meter shoreline.

Construction of the project's maritime infrastructure began in 2025. In February 2025, installation of the first section of quay wall components began; as of July 2026, the quay and dredging works implemented by the Italian port authority continue, and the offshore infrastructure is nearing completion.

Main construction of the onshore logistics platform has not yet started. The latest information shows that the site still involves environmental approval, contaminated site remediation, and containment treatment, some of which require continued action by the Italian environmental authorities. The yard, warehousing, rail access, and other onshore facilities for which Adria Port is responsible have not yet entered full-scale construction.

Adria Port is a Hungarian state-owned enterprise. It began acquiring the land and port rights related to the former Aquila refinery in 2019, and the transaction was completed in 2020. The project was previously planned to begin partial operations in 2028, with initial business positioning including roll-on/roll-off cargo, project cargo, and other multipurpose port operations.

As of 2024, Adria Port's annual loss was approximately €861,000, with cumulative losses approaching €5 million; after receiving capital injection from the Hungarian state, the company's capital reserve is close to €30 million. The project currently still uses 2028 as the previously announced target time for first-phase operations.