Expanding Its Presence in the Mediterranean: COSCO SHIPPING Ports-Led Consortium Wins Tarragona Multipurpose Terminal Project

A consortium comprising COSCO SHIPPING Ports, COSCO SHIPPING Bulk, and PTP Ibérica has officially been selected by the Port Authority of Tarragona (Spain) as the preferred investor to develop and operate the new multipurpose terminal at the Port of Tarragona, following a competitive public tender process.

Project Implementation Timeline

According to COSCO SHIPPING Ports, representatives of the consortium attended the official award ceremony organized by the Port Authority of Tarragona immediately after the tender results were announced.

However, the concession rights will only become effective once the consortium completes the establishment of the project company, signs the concession agreement with the Port Authority, and fulfills all required regulatory approvals, registration procedures, and other legal formalities.

The project will be developed at the Andalucía Quay within the Port of Tarragona. The new facility is designed as a multipurpose terminal capable of handling a wide range of cargoes, including containers, breakbulk cargo, vehicles, and various types of general cargo.

One of the project's key highlights is its direct connection to the La Boella Rail Terminal, creating an integrated sea-rail logistics hub that will significantly strengthen the port's multimodal transport capabilities.

Total Investment of EUR 144.6 Million

The total investment for the project is estimated at EUR 144.6 million, including applicable taxes and financing costs.

COSCO SHIPPING Ports stated that it will contribute capital in proportion to its ownership interest in the consortium.

Once completed and operational, the terminal is expected to handle a diverse range of cargoes, including containers, breakbulk cargo, vehicles, roll-on/roll-off (RoRo) cargo, and rail-borne freight.

Further Expanding Its European Port Network

Winning the Tarragona project represents another significant step in COSCO SHIPPING Ports' strategy to expand its port network across Europe and the Mediterranean.

The project is also expected to strengthen the group's ability to deliver integrated port and logistics solutions, particularly by enhancing multimodal transport connectivity between maritime and rail networks.

As the project, if implemented, may constitute a discloseable transaction under the Hong Kong Stock Exchange Listing Rules, COSCO SHIPPING Ports proactively issued an official announcement immediately following the award ceremony to ensure full compliance with its disclosure obligations to investors.

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Source: Phaata.com (According to Container News)

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