Balearia Group, a subsidiary of Global Investment Holding and a partner of Global Ports Holding (GPH), the world's largest cruise port operator, is entitled to a 35-year concession agreement for Valencia Cruise Port's port and ferry operations.
Under the agreement, GPH will operate Valencia Cruise Port during the concession contract. With the agreement planned to be completed in the first quarter of next year, the number of cruise ports in GPH's portfolio will increase to 20. Valencia Cruise Port, which is planned to make an infrastructure investment of up to $ 37 million with the agreement, hosted 2019 thousand cruise passengers in 435.
Expressing that Valencia Cruise Port will be an important addition to GPH's cruise network, GPH CEO Emre Sayın pointed out that the port will strengthen GPH's presence in the Iberian Peninsula and the Western Mediterranean.
Global Ports Holding (GPH), a subsidiary of Global Investment Holding and the world's largest cruise port operator, is adding a new one to the ports it operates. GPH's partner Balearia Group has been awarded a 15-year concession agreement with the right to an additional 35-year extension for Valencia Cruise Port's port and ferry operations. According to the agreement, GPH will operate Valencia Cruise Port during the concession period. The agreement is expected to be completed and come into effect in the first quarter of 2021.
Qualifying for the concession agreement, GPH's partner Balearia Group is the leading freight forwarding company for passenger and freight transport via the Balearic Islands to the mainland of Spain. In addition, the company operates a number of other passenger ferry services in the Mediterranean and Caribbean. Balearia, which carried 2019 million passengers and handled 4,5 million cargo in 6.1, had a turnover of 452 million euros.
It will meet its electricity needs with renewable energy
Valencia Cruise Port, which hosted approximately 203 thousand passengers with 435 cruise voyages last year, aimed to host more than 19 thousand passengers for 2020 before the Covid-500 pandemic. According to the terms of the agreement, Balearia plans to invest up to US $ 37 million in the port infrastructure for two new state-of-the-art smart terminals, as well as ferry piers, parking and commercial areas. The planned two-year investment phase is expected to start in the first quarter of 2021, when the use of concession rights is aimed.
The new terminals will generate 100 percent of their electricity needs from their own renewable energy sources such as solar, wind, renewable hydrogen and biofuels, creating a new benchmark for sustainability in passenger transport and all waste will be recycled.
'The project will create a new benchmark in sustainability'
Expressing that Valencia Cruise Port will be an important addition to GPH's cruise network, GPH CEO Emre Sayın pointed out that the port will strengthen GPH's presence in the Iberian Peninsula and the Western Mediterranean. Stating that they aim to increase the passenger volume sustainably in Valencia Cruise Port, Mr. Sayın said, “We are grateful to the Valencia Port Authority for their trust as the Valencia Cruise Port operator, GPH. "The project, presented by our partner Balearia Group in cooperation with GPH, will set a new benchmark for excellence and sustainability in passenger transport."
Stating that with the agreement planned to be completed in the first quarter of next year, the number of cruise ports in GPH's portfolio will increase to 20, Sayın said, “In line with our strategy, our cruise focus has increased further. Although cruise operations continue to be significantly affected by the Covid-19 pandemic, cruise tourism remains important in the long term. In this period, we continue to take advantage of the opportunities we come across for important cruise ports in the world, ”he said.