AD Ports-owned unit takes control of Spanish terminal

AD Ports Group

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.

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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.