Abu Dhabi – Mubasher: Noatum Terminals, the terminals operations business of Noatum Group, which is owned by AD Ports Group, has acquired 100% ownership of APM Terminals Castellón in Spain for an enterprise value (EV) of EUR 10 million.

The agreement was concluded after obtaining all regulatory and stakeholder approvals, according to a press release.  

Additionally, the entity reached a long-term agreement with the stevedoring union, which will assure stability and high productivity in the coming years.

Noatum Terminals’ investment in Castellón aligns with its strategy to anchor its position in Spain.

Through the acquisition of APM Terminals, Noatum’s combined capacity at Castellón will stand at 250,000 square metres (m2) in size, with an annual capacity to handle 250,000 twenty-foot equivalent units (TEUs). This accounts for nearly 70% of the container volume capacity of the Port of Castellón.

The transaction also allows Noatum Terminal Castellón to enlarge its operational capacity for bulk, general cargo, and container processing. This is besides maintaining APM Terminals' third-party services and agreements at this location.

The two terminals, which can also handle 2 million tonnes of bulk cargo alongside roll-on/roll-off (RoRo), are connected via direct rail links to the hinterland and serve the Mediterranean, Middle East, and North Africa regions.

In this regard, the port is positioned to be more competitive in capturing volumes and serving various industry sectors.

It is also worth highlighting that the Castellón region holds the world's largest tile production, with 80% of its production destined for export.

Joaquin Ramon Lestau, CEO of Noatum Terminals, said: "With this acquisition, we strengthen our position as a leading multipurpose port operator in the Western Mediterranean region.”

“Noatum Terminals is committed to providing dedicated service, in line with the Noatum Group's quality standards, to both existing and new customers, while making the necessary investments for the terminal’s operations to run smoothly and efficiently well into the future,” Lestau added.

In October 2023, Noatum acquired the entire shares of Sesé Auto Logistics in exchange for EUR 81 million.