AD Ports Group, a global leader in logistics, industry, and trade facilitation, has announced that Noatum Terminals, a business unit of Noatum Group, has successfully acquired 100% ownership of APM Terminals Castellón in Spain for a total consideration of approximately US$11 million.
The agreement, finalized with APM Terminals, has received regulatory and stakeholder approvals, and the change in ownership is effective immediately. Simultaneously, a long-term agreement with the stevedoring union has been secured, ensuring stability and high productivity in the years ahead.
Furthermore, this strategic investment by Noatum Terminals in Castellón, where it has been managing a multipurpose terminal since 2004, aligns with its broader strategy to strengthen its foothold in Spain.
In addition, the acquisition builds upon the various enhancements implemented at Noatum Terminal Castellón, focusing on the modernization and upkeep of existing facilities and equipment.
According to a statement, the combined capacity at Castellón, following the acquisition of APM Terminals, now stands at 250,000 m², with an annual capacity to handle 250,000 TEUs, representing approximately 70% of the container volume capacity of the Port of Castellón.
Additionally, the two terminals, equipped to handle 2 million tonnes of bulk cargo alongside RoRo, are seamlessly connected through direct rail links to the hinterland, serving the Mediterranean, Middle East, and North Africa regions.
This strategic positioning enhances the port's competitiveness in capturing volumes and catering to various industry sectors. Notably, the Castellón region boasts the world's largest tile production, with 80% of its output earmarked for export.
The acquisition enables Noatum Terminal Castellón to expand its operational capacity for bulk, general cargo, and container processing while upholding third-party services and agreements previously held by APM Terminals at this location.
