A consortium comprising COSCO SHIPPING Ports, COSCO SHIPPING Bulk and PTP Ibérica has received the award notification from the Port Authority of Tarragona for a multipurpose terminal project at the Spanish port, following a public tender process.
The consortium attended an award ceremony hosted by the Port Authority on the same day, though the formal grant of concession remains subject to the incorporation of a project company and finalisation of a concession agreement with the Port Authority, alongside completion of necessary approvals, registrations and applicable legal procedures.
The terminal will be located in the AndalucÃa Wharf area of the port, positioned as a multipurpose facility open to general use with capability to support container, general cargo, vehicle and other cargo operations.
The project will integrate with the adjacent La Boella rail-port terminal, creating combined sea and rail connectivity for the facility.
Total investment in the project is estimated at approximately EUR 144.6 million, including applicable tax and interest, with COSCO SHIPPING Ports bearing capital contribution obligations proportionate to its equity interest in the consortium.
Upon full implementation, the terminal is expected to accommodate a diversified cargo mix including containers, general cargo, vehicles, RoRo traffic and rail-borne cargo.
The award represents a significant step for COSCO SHIPPING Ports in expanding its port network across the European Mediterranean region and strengthening its integrated regional port logistics capabilities.
As the project, if materialised, is expected to constitute a discloseable transaction under Hong Kong Stock Exchange Listing Rules, a corresponding announcement was published by the company on the same day as the award.
