The two acquire the Tarragona Container Terminal Port from Spain's Contarsa. Under terms of the partnership DP World will own 60% of the operations, ZIM the remaining 40%. This is the first port for DP World in Spain. The terminal has an annual capacity of 150,000 TEU (twenty-foot equivalent) and potential for expansion.
“Tarragona is an exciting addition to our global portfolio with considerable growth potential,” says DP World Chairman, Sultan Ahmed bin Sulayem. “We are looking forward to building a closer relationship with Spain to serve customers across the region as well as increasing the trade between the Middle East and southern Europe.”
ZIM Ports, a fully-owned subsidiary of ZIM, explains that Tarragona is located in the Northeast of the Iberian Peninsula, and is well positioned to grow as a significant gateway for Spain and as a Mediterranean hub for global shipping services. It is a deep-water port and has strong supporting adjacent logistic centers, as well as excellent road and rail connectivity to Barcelona, Valencia, Madrid and the Spanish hinterland.
“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,” claims Doron Goder, ZIM president & CEO. “We are looking forward to working with DP World in developing Tarragona Container Terminal and making it a great success. ZIM plans to call at Tarragona with its services towards the end of 2008 and to progressively expand it as a regional hub.”