Zim Ports (2006) Ltd, a subsidiary of Israeli shipping company Zim, has acquired a 40 per cent share of Contarsa, the container terminal operator at the Spanish port of Tarragona, in partnership with the UAE's DP World, which has the other 60 per cent.
Contarsa is a privately-owned company with an exclusive concession for the Tarragona Container Terminal located on the northeast of the Iberian Peninsula in the Catalonia region.
A Zim statement noted that "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 centres, as well as excellent road and rail connectivity to Barcelona, Valencia, Madrid and the Spanish hinterland."
Said Zim CEO Doron Goder: "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."
The Tarragona Container terminal currently has an annual capacity of 150,000 TEU, with potential for expansion. The present quay depth is 15.5 metres, and there are plans to increase the depth to 16.5 metres and enlarge it by 400 metres in length, thus enabling the facility to receive very large container ships in future.
The company added that the transaction is pending the completion of European Union regulatory clearance, due by the end of June.
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