Zim, DP World acquiring Spanish port

ZIM Ports (2006) Ltd., a subsidiary of Zim Integrated Shipping Services and Dubai Ports World have acquired a container terminal in Tarragona, Spain.

Zim will take a 40 percent stake in Contarsa, the container terminal operator at the Spanish port, while DP World has acquired the other 60 percent share.

The Mediterranean port of Tarragona is located in the Northeast of the Iberian Peninsula, in the Catalonia region.

Zim said it has strong expansion potential and supporting adjacent logistic centers, as well as excellent road and rail connectivity to Barcelona, Valencia, Madrid and the Spanish hinterland.

Tarragona Container terminal has an annual capacity of 150,000 TEU, with potential for expansion. Quay depth is 15.5 meters, with plans to increase the depth to 16.5 meters and enlarge it by 400 meters in length, thus enabling it to receive very large containerships of the latest generation.

The transaction is pending the completion of EU regulatory clearance, due by the end of the month. 

Source: American Shipper