Skip to content Skip to Search
Skip navigation

AD Ports-owned unit takes control of Spanish terminal

The acquisition by AD Ports allows Noatum Terminal Castellón to expand its operational capacity AD Ports Group
The acquisition by AD Ports allows Noatum Terminal Castellón to expand its operational capacity

A Madrid-based subsidiary of AD Ports Group has acquired full ownership of APM Terminals Castellón in Spain for €10 million ($10.96 million).

Noatum Terminals, the terminals operations business of Noatum Group, has obtained all regulatory and stakeholder approvals, with the change of ownership taking place immediately, the UAE state-run Wam news agency reported, citing a statement by Abu Dhabi-listed AD Ports. 

A long-term agreement with the stevedoring union has been achieved to ensure stability and high productivity in the coming years.

Noatum Terminals has already been managing a multipurpose terminal in Castellón since 2004.

The acquisition allows Noatum Terminal Castellón to expand its operational capacity for bulk, general cargo, and container processing while maintaining APM Terminal’s third-party services and agreements.

Noatum’s combined capacity at Castellón will increase to 250,000 sq m and an annual capacity to handle 250,000 TEUs, making 70 percent of the container volume capacity of the Port of Castellón. 

The two terminals will handle two million tonnes of bulk cargo alongside RoRo and are connected via direct rail links to the hinterland and serve the Mediterranean, Middle East and North Africa regions.

In  November 2022, AD Ports Group acquired Noatum, a logistics provider in 26 countries, for AED2.5 billion.

Latest articles

Men walk past an HSBC branch in Manama. HSBC Bank Middle East made pre-tax profit of $1.2bn in 2023

HSBC’s Middle East unit increases lending in Q4

HSBC’s Middle East subsidiary expanded its loan book in the fourth quarter, outperforming the bank’s other units. Customer lending at HSBC Bank Middle East was $20 billion on December 31, up $1.6 billion, or 8 percent, on three months earlier. Worldwide, HSBC’s customer lending fell by 2 percent over the same period. The Middle East […]

Abdullah Binghannam, deputy head of financing and investment at the Capital Market Authority, spoke on the second day of the forum in Riyadh

Saudi Arabia prods blue chips to list more shares

Saudi Arabia is prodding blue-chip companies on its stock exchange to offer more shares to the public as part of a drive to become a global financial centre.  Abdullah Binghannam, deputy head of financing and investment at the kingdom’s Capital Market Authority, told a markets forum in Riyadh on Tuesday that a regulatory framework was […]

Al Jaber and IAE representatives met in Paris and discussed ways to support climate change commitments

Take action to keep climate goal in reach, urges Al Jaber

The UAE consensus achieved at the Cop28 summit in Dubai set a clear roadmap for keeping global temperature rise to within 1.5C. Now the world must turn the plan into action and results, said Cop28 president Sultan Al Jaber.  Al Jaber told the International Energy Agency roundtable in Paris on Tuesday that all stakeholders must […]

Bahrain investments Manama skyline

Financial services help Bahrain to record $1.7bn in investments

Bahrain attracted more than $1.7 billion in investments last year through its government-backed investment company. The financial services sector was the main driver. The figure, released by the Bahrain Economic Development Board, was 55 percent up on 2022. The investments covered 85 local and international projects, which are forecast to create 5,700 jobs in Bahrain […]