DP World buys into Spain

18 June 2008
DP World has announced an expansion of its European operations with a first venture into Spain, buying a 60 per cent stake in ports company Contarsa Sociedad de Estiba.

Contarsa is a privately owned company which holds the exclusive concession for the Mediterranean Tarragona container terminal in northern Spain near Barcelona.

Neither party has disclosed the value of the deal, which has been approved by the Tarragona Port Authority and is now seeking regulatory clearance from the European Union.

The Dubai-based ports operator says it is keen to tap into the increasing volumes of traffic between the Middle East and Europe.

Tarragona Port serves the hinterland of northern and central Spain, and DP World has made it clear that it sees opportunities for expansion at the site.

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