Hungary is reviewing the financial, technical and market viability of its €200m ($226m) state-owned maritime logistics terminal in Trieste, Italy, before deciding whether and how to proceed, according to the Ministry of Transport and Investment.
The project has been transferred from the Ministry of Foreign Affairs and Trade to the Ministry of Transport and Investment, with no decision due until the review is completed. Adria Port chief executive Péter Garai has confirmed the transfer between ministries.
The project is now estimated at about €200m ($226m), up from roughly €100m ($113m) when the acquisition was completed in 2020. Italy is funding about €45m ($50.9m) of maritime infrastructure.
The scheme covers a 32-hectare site, including a roughly 30-hectare logistics platform, and envisages a 650-metre quay. The first quay section is about 245 metres.
Main landside construction has not started. The site still lacks environmental authorisation, while remediation and containment work is awaiting action from Italy’s Ministry of the Environment. Italian-funded maritime works are continuing.
Adria Port lost €861,000 ($973,000) in 2024, taking accumulated losses to nearly €5m ($5.65m). Its capital reserve was close to €30m ($33.9m) after Hungarian state funding. An April 2025 project update targeted 2028 for the start of operations.
Adria Port Zrt is wholly owned by the Hungarian state and was established to develop Hungary’s terminal in Trieste as a maritime gateway for Hungarian and other Central European businesses. Hungary announced the acquisition of the former Aquila refinery site and associated port interests in 2019, with the transaction completed in 2020.