The Port Authority of Tarragona has awarded COSCO SHIPPING Ports-led consortium the Tarragona multipurpose terminal.
The award follows a public tender process and was confirmed at a recent ceremony.
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The formal concession remains subject to the incorporation of the project company and the signing of a concession agreement, alongside other regulatory and procedural approvals.
If completed, the project is expected to be treated as a discloseable transaction under Hong Kong Stock Exchange listing rules, with a corresponding announcement issued by the company.
The Port of Tarragona, located in Catalonia in northeastern Spain, is a key Mediterranean hub handling energy products, chemicals, agri-food cargo, vehicles, general cargo and containers.
The proposed terminal will be located at the AndalucÃa Wharf area and developed as a multipurpose facility capable of handling containers, general cargo, vehicles and other unitised cargo.
The project will also integrate the adjacent La Boella rail-port terminal, strengthening intermodal connectivity between port and inland logistics networks.
The proposed concession period is 50 years, covering an area of approximately 510,586 square metres.
COSCO SHIPPING Ports said the award reflects its long-term confidence in Tarragona’s role as a strategic logistics hub in the western Mediterranean, supported by its industrial base and multimodal infrastructure links.
The total investment is estimated at approximately €144.6 million ($167 million), including tax and interest, with the company contributing in line with its equity stake.
The terminal is planned as a modern, multipurpose facility developed in phases, with future operations expected to include containers, general cargo, vehicles, RoRo and rail-linked cargo flows.
The consortium will combine COSCO SHIPPING Ports’ global port and logistics network, COSCO SHIPPING Bulk’s bulk cargo expertise, and PTP Ibérica’s local market knowledge to advance development and operational planning.
The project is expected to prioritise safety, environmental compliance, operational efficiency and sustainability, while supporting regional supply chains and industrial activity.