Hutchison Port Holdings and Evergreen Group have signed an agreement for HPH to 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 and ECT Delta.
HPH, a subsidiary of the multinational Hong Kong-based conglomerate Hutchison Whampoa Limited, is the world's leading port investor, developer and operator with interests in 49 ports, spanning 26 countries throughout Asia, the Middle East, Africa, Europe, the Americas and Australasia. HPH also owns a number of transportation-related service companies.
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."
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.