DJ Valencia Cruise Port agreement
Global Ports Holding PLC (GPH)
Valencia Cruise Port agreement
13-Nov-2020 / 13:01 GMT/BST
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Global Ports Holding Plc
Valencia Cruise Port agreement
Global Ports Holding Plc ("GPH" or "Group"), the world's largest independent
cruise port operator, is pleased to announce that, its partner Baleària
Group ("Baleària") has been awarded a 35-year concession agreement for the
ferry and cruise port of Valencia, with a 15-year extension option. As part
of this agreement, GPH will operate and manage Valencia Cruise Port
throughout the period of the concession. All parties will now work together
to conclude the agreement that is expected to be signed in Q1 2021. A
further announcement, as appropriate, will be made in due course.
Under the terms of the agreement, Baleària will invest up to $37m into the
port infrastructure, including two new state of the art smart terminals, as
well as investment into ferry piers, car parking and retail and F&B areas.
The concession is expected to start in Q1 2021, with the expected two-year
investment phase starting at the same time.
The new terminals will set a new benchmark for sustainability in the
passenger transport industry, producing 100% of their electricity needs from
their own renewable energy sources (photovoltaic, wind, renewable hydrogen
and biofuel), with all waste generated being recycled.
In 2019, the port of Valencia received 203 cruise ship calls and welcomed
c435,000 cruise passengers, with a pre Covid-19 forecast of over 500,000
passengers in 2020.
Emre Sayin, Chief Executive Officer, said:
"We are very grateful to Valencia Port Authority for placing their trust in
GPH as the operator of Valencia Cruise Port. The project presented by our
partners, Baleària Group, in collaboration with GPH, will set a new
benchmark for excellence and sustainability in the passenger transport
industry.
Valencia Cruise Port is an important addition to our cruise port network,
further strengthening our presence and capabilities in Iberia and the West
Med. We very much look forward to growing cruise passenger volumes in
Valencia in a sustainable and responsible way."
About Baleària Group
Baleària Group is the leading shipping line for passenger and freight
transport on Balearic Islands crossings to the Spanish mainland. It also
operates a number of other passenger ferry services in the Mediterranean and
Caribbean.
In 2019, Baleària handled c4.5m passengers and 6.1 metres of cargo,
generating turnover of &euro452m.
ISIN: GB00BD2ZT390
Category Code: AGR
TIDM: GPH
Sequence No.: 87866
EQS News ID: 1148104
End of Announcement EQS News Service
(END) Dow Jones Newswires
November 13, 2020 08:01 ET (13:01 GMT)
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