Late last week, both Dubai Ports World (DP World)and Israel’s ZIM Ports announced they have purchased respectively a 60% and 40% share in Spain’s Contarsa Sociedad De Estiba (Contarsa).

The Spanish company holds the concession to operate the Port of Tarragona’s container terminal, as such both DP World and ZIM Ports have moved to enter the substantial Spanish container market.

Taking the majority share in Contarsa and subsequently the Tarragona concession, DP World Chairman Sultan Ahmed bin Sulayem said that “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.”

The Chairman and Chief Executive Officer of DP World also commented on the promise of the investment, saying that “Tarragona is very well-placed to service a large market; the city has recently attracted investment from major multi-national distributors, attracted by its established infrastructure links. Operating the port in Tarragona will allow us to provide further, quality services for our customers in the Mediterranean and create an efficient, modern gateway for this rapidly growing region.”

ZIM Ports, subsidiary of ZIM Integrated Shipping, having the remaining 40% share of Contarsa is according to its President and Chief Executive Officer, Doron Goder, looking forward to working with DP World to develop the Tarragona Container Terminal.  “Tarragona is very well-placed to service a large market and the city has recently attracted investment from major multi-national distributors, in view of its established infrastructure links,” said Goder.  “ZIM plans to call Tarragona with its services towards the end of 2008 and to progressively expand it as a regional hub.”

The Port of Tarragona acts as one of Spain’s most important waterside facilities.  Listed as being in fourth place insofar as traffic volume in Spain, it’s wharf boasts more than 100,000 square metres of dedicated surface area with the capacity for future growth of up to 360.000 square metres.

Source: DP World, ZIM Integrated Shipping and Contarsa Sociedad De Estiba

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