Following the recently announced extension of Noatum’s container terminal concession in Valencia, there comes the news of the company’s intention to invest EUR 26.5 mln into the terminal’s expansion, writes the Spanish daily Las Provincias.

In late July, the Port Authority of Valencia (APV, La Autoridad Portuaria de Valencia) announced in the State’s Official Bulletin (BOE, Boletin Oficial del Estado) that the initial term of the concession of NOATUM Container Terminal Valencia was prolonged by 10 years, until 8 March 2041.

According to Las Provincias, the concession’s extension was one of the conditions for the purchase of 51% of Noatum Ports’ shares by China’s Cosco Shipping Ports Ltd (CSP) in June 2017.

Noatum Ports owns and operates the container terminals in Valencia (Noatum Container Terminal Valencia) and Bilbao (Noatum Container Terminal Bilbao), as well as the dry ports of Madrid (Conterail) and Zaragoza (Noatum Rail Terminal Zaragoza).

Last week brought more news on the issue, as APV published in BOE its resolution on the significant expansion of the area under concession, whereby NOATUM Container Terminal Valencia will have a larger quay line, operations area (8,694 sq.m) and water area at Muelle de Costa (26,565 sq.m). The resolution also indicates the annual rate for using the land (EUR 6.7529 per sq.m) and water (EUR 1.87165 per sq.m).

According to local port sources quoted by Las Provincias, Noatum now plans to invest EUR 26.5 mln in paving the yard of the eastern berth and in cranes of the new generation – both STS and for yard operations.

From January to July 2018, Noatum Ports handled 2.08 mln TEU, up 13.2% y-o-y. In May, its container terminals set a monthly record of 325,969 TEU, which marked an increase of 12.88% as compared to May 2017. Overall, the company expects to handle 3.7 mln TEU this year, which will record a 12% rise over the last year’s 3.3 mln TEU.