MSC intends to buy out the shares of Gruppo Investimenti Portuali (GIP), its partner in the new container terminal under construction in the Italian port of Genoa, and thus to consolidate 100% of the terminal, informs The MediTelegraph.
Not so long ago, in June 2018, the Western Ligurian Sea Port Authority managing the Genoa port signed a concession agreement with Consorzio Bettolo to develop a new container terminal. The Consortium was owned by Mediterranean Shipping Company (65%) and by GIP (35%), that in turn is run by the Infravia and Infracapital funds.The duration of the concession is 33 years.
The Calata Bettolo Container Terminal, with its 750m linear quay and 180,000sqm terminal area, is one of the major infrastructure projects underway in the Ports of Genoa – Sampierdarena Basin. The new terminal will have the annual capacity of 550,000 TEU, which will enhance the capacity of the entire Calata Sanita-Calata Bettolo area up to 800,000 TEU.
It is planned to install 6 STS cranes, for a total investment of EUR 50 mln, in addition to Automated Stacking Cranes and straddle cranes for a further EUR 49 mln. Also, the Bettolo terminal will have the on-site rail facility and the customs inspection area.
It is expected to start operations in the first half of 2019.
And now, Italian sources disclose that two days ago it became known about the breakup of the Consortium. Obviously, the reason was a difference in the interests of the investor and the entrepreneur.
“While the ship owner regards the terminal as a cost center, the terminal operator has a wider interest in the facility,” comments Giulio Schenone, Managing Director of GIP.
So now the notice of the Consorzio Bettolo’s dissolution will be passed to the Port Authority and MSC will manage the Bettolo container terminal on its own. MSC will also have to invest the EUR 150 mln planned to put the terminal in operation.