DP World adds Spain

01 July 2008

Global marine terminal operator DP World Limited (DP World) has announced that it has signed a binding sale and purchase agreement for a 60 per cent shareholding in Contarsa Sociedad de Estiba (Contarsa), a privately owned company which holds the exclusive concession for the Tarragona container terminal in northern Spain.

The transaction has received approval from the Tarragona Port Authority and is currently seeking European Union regulatory clearance. The price was not disclosed.
Tarragona Port, which handles 100 per cent origin and destination cargo, is located on the Mediterranean near Barcelona and serves the hinterland of northern and central Spain. Tarragona has the potential to expand and to attract cargo seeking alternatives to nearby ports.
Following a meeting in Dubai between DP World Chairman Sultan Ahmed bin Sulayem and the King of Spain, DP World accelerated its effort to expand its portfolio into Spain to serve Spanish customers and develop shipping links between Spain and DP World’s largest port in Dubai, leading to increased trade between the Mediterranean and Middle East regions.
DP World chairman, Sultan Ahmed bin Sulayem, said: “Tarragona is an exciting addition to DP World’s global portfolio with considerable growth potential. 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 “
DP World CEO Mohammed Sharaf said operating the port in Tarragona would allow DP World to provide further quality services for its customers in the Mediterranean and create an efficient, modern gateway for this rapidly growing region. “
Flemming Dalgaard, senior vice president and managing director of Europe and Russia, said, “Tarragona has great potential for future growth, with room for expansion, a deep water draft and excellent direct road and rail connectivity to both Barcelona and Madrid.” In other developments, DP World announced that P&O Maritime Services (FZE), a wholly owned, Australia-based subsidiary of global port operator DP World, had expanded into the Middle East, providing vital support at DP World’s flagship Jebel Ali terminal and throughout the UAE region.
P&O Maritime Services is a specialist vessel fleet manager, owner and operator, supporting governments and the private sector in markets globally, from Ireland to the Southern Ocean. In Dubai, P&O Maritime Services will provide crewing and maintenance of more than 20 vessels including tug boats, pilot boats and line boats, along with other maritime operations in the UAE region, both in-harbour and offshore.
Mohammed Al Muallem, senior vice president and managing director for DP World UAE, remarked: “With the rapid expansion of our terminal at Jebel Ali, P&O Maritime Services will play a vital part in the support we provide our customers from before their vessels arrive in port to beyond the terminal gates.

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