Public Disclosure Copy The World Bank Implementation Status & Results Report Rijeka Gateway II (P102365) Rijeka Gateway II (P102365) EUROPE AND CENTRAL ASIA | Croatia | Transport & ICT Global Practice | IBRD/IDA | Specific Investment Loan | FY 2009 | Seq No: 15 | ARCHIVED on 16-Nov-2015 | ISR21056 | Implementing Agencies: Key Dates Key Project Dates Bank Approval Date:11-Dec-2008 Effectiveness Date:14-Jul-2009 Planned Mid Term Review Date:15-Dec-2011 Actual Mid-Term Review Date:15-Dec-2013 Original Closing Date:15-Dec-2014 Revised Closing Date:15-Jun-2017 Project Development Objectives Project Development Objective (from Project Appraisal Document) The overall project development objective is to develop the capacity, financial performance, and quality of services in the port ofRijeka to meet growing traffic demand, through public-private partnerships, while facilitating urban renewal by enabling therelocation of port activities. Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name Port Terminal Development:(Cost $150.70 M) Port Service Enhancement:(Cost $8.10 M) Project Implementation (including front end fee and interests):(Cost $6.20 M) Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  Moderately Unsatisfactory  Moderately Unsatisfactory Overall Implementation Progress (IP)  Moderately Unsatisfactory  Moderately Satisfactory Overall Risk Rating  High  High 11/16/2015 Page 1 of 10 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Rijeka Gateway II (P102365) Implementation Status and Key Decisions The works on the Zagreb Container Terminal are progressing well and the completion of the works is now expected for June 2018. At the time of the visit, the geotechnical uncertainty raised by the Contractor in May 2015 is under control. An amendment to the construction permit taking into accounts the revised design was submitted to the Ministry of Environment on June 9, 2015. The Ministry issued the changed Construction Permit on August 12, 2015. The mission was informed that State Ministry Inspectors visited the site from September 3 to 4, 2015. The inspectors thoroughly checked all relevant papers regarding Laws’ compliance. The conclusion of the inspection was that all documents on site are in accordance with Croatian Laws. Overall, the implementation of the project has improved significantly in the last twelve months. The civil works are progressing and technical issues are manageable. EU’s Connecting Europe Facility award for the Brajdica rail station is very positive. Luka Rijeka was successfully privatized with Croatian pension funds and a Polish logistics company together owning majority interests in the port operator 11/16/2015 Page 2 of 10 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Rijeka Gateway II (P102365) 11/16/2015 Page 3 of 10 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Rijeka Gateway II (P102365) Risks Systematic Operations Risk-rating Tool Risk Category Rating at Approval Previous Rating Current Rating Political and Governance  --  Moderate  Moderate Macroeconomic  --  Moderate  Moderate Sector Strategies and Policies  --  Low  Low 11/16/2015 Page 4 of 10 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Rijeka Gateway II (P102365) Technical Design of Project or Program  --  Substantial  Moderate Institutional Capacity for Implementation and Sustainability  --  Moderate  Moderate Fiduciary  --  Low  Low Environment and Social  --  Moderate  Moderate Stakeholders  --  Low  Low Other  --  High  High Overall  --  High  High Results Project Development Objective Indicators PHINDPDOTBL  Increased Rijeka port container capacity (kTEU) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 150 400 600 750 Date 31-Dec-2007 31-Dec-2014 31-Dec-2015 15-Jun-2017 PHINDPDOTBL  Increased container traffic (kTEU) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 145 150 150 300 Date 31-Dec-2007 31-Dec-2014 31-Dec-2014 15-Jun-2017 PHINDPDOTBL  Improved PRA operating ratio: ratio of operating expenses to total operating revenue (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 153% 137 137 120% Date 31-Dec-2007 31-Dec-2014 31-Dec-2014 15-Jun-2017 11/16/2015 Page 5 of 10 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Rijeka Gateway II (P102365) PHINDPDOTBL  Reduced subsidies for interest as percentage of operating revenues (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 46% 2% 2% 10% Date 31-Dec-2007 31-Dec-2014 31-Dec-2014 15-Jun-2017 PHINDPDOTBL  Increased container terminal efficiency (move per crane per hour) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 18 22 22 22 Date 31-Dec-2007 31-Dec-2014 31-Dec-2014 15-Jun-2017 PHINDPDOTBL  Private Sector investments (USD million) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0 70 115 25 Date 31-Dec-2007 31-Dec-2014 31-Dec-2015 15-Jun-2017 PHINDPDOTBL  Portion of dry cargo port activities carried out by operators with a private majority ownership (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 29% 51% 100% 65% Date 31-Dec-2007 31-Dec-2014 31-Dec-2015 15-Jun-2017 PHINDPDOTBL  Redevelopment of urban area (ha) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0 0 0 7 11/16/2015 Page 6 of 10 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Rijeka Gateway II (P102365) Date 31-Dec-2007 31-Dec-2014 31-Dec-2014 15-Jun-2017 Overall Comments Intermediate Results Indicators PHINDIRITBL Port Terminal Development Component. Construction of Brajdica Container Terminal extension completed (2011) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0% 100% 100% 100% Date 31-Dec-2007 31-Dec-2014 31-Dec-2014 15-Jun-2017 PHINDIRITBL  Construction of Zagreb Terminal infrastructure completed (2014) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0% 10% 10% 100% Date 31-Dec-2007 31-Dec-2014 31-Dec-2014 15-Jun-2017 PHINDIRITBL  Area for urban redevelopment available ( at least 7 ha) (2012) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value 0 ha 0 ha 0 ha 7 ha Date 31-Dec-2007 31-Dec-2014 31-Dec-2014 15-Jun-2017 11/16/2015 Page 7 of 10 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Rijeka Gateway II (P102365) PHINDIRITBL  Selection of a private developer to redevelop the Delta/Port of Baross area (Sep 2010) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value not done 0% 0% 100% Date 31-Dec-2007 31-Dec-2014 31-Dec-2014 15-Jun-2017 PHINDIRITBL  Signed concession agreements for at least two port terminals (2011) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target 2 agreements based on cost Value 0 1 1 recovery principles Date 31-Dec-2007 31-Dec-2014 31-Dec-2014 15-Jun-2017 PHINDIRITBL  Development of port environmental protection plan (2010) (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value not available In place In place In place Date 31-Dec-2007 31-Dec-2014 31-Dec-2014 15-Jun-2017 PHINDIRITBL  Quality supervision of works (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Value continuous satisfactory satisfactory satisfactory Date 31-Dec-2008 31-Dec-2014 31-Dec-2014 15-Jun-2017 Overall Comments Data on Financial Performance 11/16/2015 Page 8 of 10 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Rijeka Gateway II (P102365) Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P102365 IBRD-76380 Effective USD 122.50 122.50 0.00 35.75 79.83 29% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date P102365 IBRD-76380 Effective 11-Dec-2008 17-Apr-2009 14-Jul-2009 15-Dec-2014 15-Jun-2017 Cumulative Disbursements Restructuring History Level 2 Approved on 29-Jan-2014 Related Project(s) There are no related projects. 11/16/2015 Page 9 of 10 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report Rijeka Gateway II (P102365) 11/16/2015 Page 10 of 10 Public Disclosure Copy