Release Date: 01 July 2008
Release ID: 1483
ZIM Ports (2006) Ltd., a fully-owned subsidiary of ZIM, has acquired a 40% share of Contarsa, the container terminal operator at the Spanish port of Tarragona, in partnership with DP World, one of the largest marine terminal operators in the world, which has acquired the other 60% share.
Contarsa is a privately owned company with an exclusive concession for Tarragona Container Terminal.
The Mediterranean Spanish port of Tarragona is located in the Northeast of the Iberian Peninsula, in the Catalonia region. Tarragona is very well positioned to pursue its growth as a significant gateway for Spain as well as a Mediterranean hub for global shipping services. Tarragona benefits from a deep-water port, a strong expansion potential and supporting adjacent logistic centers, as well as excellent road & rail connectivity to Barcelona, Valencia, Madrid and the Spanish hinterland.
ZIM's President & CEO Doron Goder commented that “Tarragona is very well-placed to service a large market and the city has recently attracted investment from major multi-national distributors, in view of its established infrastructure links. We are looking forward to working with DP World in developing Tarragona Container Terminal and making it a great success. ZIM plans to call Tarragona with its services towards the end of 2008 and to progressively expand it as a regional hub”.
Tarragona Container terminal currently has an annual capacity of 150,000 TEU, with potential for expansion. Currently quay depth is 15.5 meters, and existing plans are to increase the depth to 16.5 meters and enlarge it by 400 meters in length, thus enabling it to receive very large container ships of the latest generation in the future.
The transaction is pending the completion of EU regulatory clearance, due by the end of the month.
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