The Hungarian government is reviewing plans to develop a logistics terminal at the Italian port of Trieste, questioning its financial, technical and commercial viability. The facility would provide the landlocked country with an outlet on the Adriatic.
The project envisages a multipurpose terminal on the former Aquila refinery site, southeast of Trieste in Muggia, closed since 1985. The development would include 650 metres of quay and a logistics platform. Total investment has been estimated at around €200 million, with Italy covering the water side and Hungary paying for the works on land.
According to Hungarian media, the government has transferred responsibility for the project from the Ministry of Foreign Affairs and Trade to the Ministry of Transport and Investment, headed by Dávid Vitézy. The latter confirmed that it was examining the project’s financial, technical and market viability before deciding how to proceed.
New government
The previous Orbán government had targeted completion in 2028. Hungary acquired the site and concession for €31 million in 2020. Industry reports indicate that Italy’s investment in the maritime infrastructure amounts to approximately €45 million, while Hungary had planned to invest around €150 million in the terminal and associated facilities.
The Hungarian review does not equal cancellation, and work on the Italian seaside is continuing. However, construction of the terminal has yet to begin and decisions will have to be made sooner rather than later.
The tender for designing the terminal and associated infrastructure, expected in early 2026, had been put on hold, according to Italian media AdriaPorts (not to be confused with the company owning the terminal, Adria Port). Environmental issues are also delaying progress, with missing authorisation on the 33 hectare site, and remediation and landfilling still pending.
Adria Port bleeding money
The project’s financial performance has added to the scrutiny. Hungarian sources reported that state-owned developer Adria Port recorded a loss of €861,000 in 2024, bringing accumulated losses to almost HUF 2 billion (roughly €5m). The company nevertheless held a capital reserve of nearly €30 million.
In Trieste, regional authorities are seeking clarification from Budapest. “We are waiting for a meeting to understand Budapest’s intentions,” said Massimiliano Fedriga, president of the Friuli Venezia Giulia region. Marco Consalvo, president of the Port System Authority of the Eastern Adriatic Sea, said the situation was being monitored.
Adriatic ports uniting
The uncertainty comes as northern Adriatic ports seek to strengthen their position in international supply chains. Fedriga identified the proposed IMEC corridor as a strategic opportunity, arguing that it should complement rather than replace the route through the Suez Canal, providing greater resilience for European trade.
Consalvo called for closer cooperation between Trieste, Venice, Ravenna, Koper in Slovenia and Rijeka in Croatia. The ports should develop joint projects to attract European funding, he argued, warning that public resources from individual countries would be insufficient to finance even 30% of planned investments.
The infrastructure question
With projects such as the Koralmbahn in Austria and Slovenia’s second track between Divača and Koper in 2027, rail freight links between Hungary and Adriatic ports are becoming stronger. The Koralmbahn, which re-opened in November 2025, forms part of Austria’s Southern Railway corridor between Graz and Klagenfurt. By reducing journey times and increasing capacity, the new line improves connections towards Trieste via Villach.
Electrification of the line from to Hungary is also progressing. ÖBB is targeting 2028 to complete electrification. Selected sections are also planned for upgrading to 160 km/h, while 41 level crossings are scheduled for closure. Preparatory works and approval procedures continued in 2026. Electrification is expected to improve the competitiveness of rail freight between Austria and Hungary by enabling electric-hauled through services
Slovenia’s Divača-Koper line addresses a different constraint. Replacing the existing winding route with a shorter, faster line is expected to increase capacity on the port access railway. Commissioning is expected in 2027. These projects could influence the choice of routing for Hungarian freight, but neither automatically favours one port over another.
Koper will gain additional access capacity, while Trieste will benefit from improvements to the Austrian corridor and is seeking to develop closer cooperation with Hungarian railway operators. The commercial outcome will depend on total transit costs, terminal capacity, maritime connections and available train paths.