Ports
China's COSCO JV with PTP Approved to Redevelop Spain's Tarragona Port
A joint venture between China COSCO and Spanish company PTP was approved for a 50-year concession to redevelop Spain's Port of Tarragona. The new JV will invest €116 million ($135 million) to develop a multipurpose terminal with estimated capacity of 680,000 TEU equivalents. COSCO Shipping Ports and COSCO Bulk will hold 51 percent, while PTP Iberica will hold 49 percent of the venture.
