Hutchison Port Holdings (HPH) and Evergreen Group (Evergreen) have signed an agreement whereby, upon completion, HPH will become a shareholder of Taranto Container Terminal S.P.A. The agreement constitutes a share swap of Evergreen’s interest in Taranto Container Terminal for a minority stake interest in London Thamesport (LTP) and ECT Delta.
Commenting on the agreement, John Meredith, Group Managing Director of HPH, said, “We are happy with this new investment as it will enable HPH to establish its first transshipment presence in the Central Mediterranean. This transaction will also further enhance our global relationship with Evergreen.”
Raymond Lin, Vice Group Chairman of Evergreen Group said, “This is a win-win cooperation for our two companies. We are able to access HPH’s wealth of knowledge in common user terminal management and at the same time gain an interest in two very important deep sea container terminals in northern Europe.”
Port of Taranto is one of Italy’s top five container ports and is located approximately 170 nautical miles from the main Suez-Gibraltar shipping route. It is in the heart of an industrial area that is home to 44,000 companies and has excellent links to national rail and road networks.
Taranto Container Terminal has a total quay length of 2,050 metres with a land area of 100 hectares and a depth alongside of 15.5 metres. Taranto Container Terminal commenced operations in 2001 under a 60-year concession.