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Csepel dockyards operator up for sale

The State Privatization and Holding Company (ÁPV) has separated the dockyards from the dockyard operations of Hungarian shipping company Mahart Rt, ÁPV announced yesterday. ÁPV is keeping the dockyards, but selling a 75-year concession to operate them. The concession contract comes with the purchase of a 99% stake in Budapest Free Port Logistics, a company set up by ÁPV to operate the shipyards on Budapest's Csepel Island. All of the property at the dockyards will remain with Mahart-Free Port, which is to remain state-owned. The buyer of Budapest Free Port Logistics will pay rent to Mahart-Free Port for use of the property.