Hungary, a landlocked country, is closer to achieving its long-sought-after access to the sea with the commencement of construction on a new seaport in Trieste, Italy. The groundbreaking ceremony was attended by Hungarian Deputy Foreign Minister Levente Magyar and Italian Deputy Minister for Infrastructure Edoardo Rixi.
The port project was announced in 2019 following Hungary's purchase of an 80-acre seafront site in Trieste for $32 million under a 60-year concession contract. The first phase involves building a 250-meter quay wall, which will later be expanded by 400 meters, giving Hungary a total of 650 meters of coastline on the Adriatic Sea.
Adria Port Zrt., a Hungarian state-owned company, is responsible for developing the Trieste Port project. The $209 million facility is expected to be operational by 2028 and will have an annual capacity of 78,000 TEU of cargo. A logistics center is also planned to streamline the movement of goods. Trieste's strategic location, with its proximity and reliable rail and road connections to Hungary, makes it an ideal choice for the seaport.
"Hungary exports cargo worth around $155 billion every year, with the majority leaving Europe by sea. Without its own sea exit and seaport capacity, Hungary will always be dependent on others. We want to change this situation, as Hungary, being the 34th largest exporter in the world, must have channels to connect to global supply chains," said Levente Magyar.
Hungary lost its sea access in 1920 after World War I with the signing of the Trianon Treaty, which resulted in the loss of two-thirds of its former territory, including a vast coastline.
In recent years, Hungary has intensified cooperation with its coastal neighbors to gain maritime access. Last month, Hungarian Minister for National Economy Márton Nagy met with Bulgarian President Rumen Radev for economic talks, leading to the signing of cooperation agreements in the transport sector. This partnership will create a simplified logistics and transport corridor connecting Hungarian businesses with Bulgarian ports and free zones in the Black Sea. The Hungarian government has stated that Bulgaria is a critical partner for its energy security, providing a transit route for Russian, Turkish, and Azerbaijani natural gas supplies by pipeline.