The world’s largest independent cruise port operator GPH (Global Ports Holding Plc) announced that Port Network Authority of the Ionian Sea had awarded Global Ports Holding a 20-year concession to manage the services for cruisers in Port Taranto, Italy.
The port infrastructure in Taranto is undergoing a state-funded, EUR 28 million investment program, including the building of a new cruise ship terminal. The construction of the new facilities is expected to be completed by the end of the year.
Global Ports Holding and Port Authority will work towards agreeing on the terms of the concession agreement. Following the successful execution of the agreement, GPH will use its expertise and operating model to manage the cruise operations in Taranto. The concession is due to start in 2021-Q1.
Last year, the Taranto Cruise Port welcomed nearly 9000 cruise passengers, with a pre-COVID-19 forecast of 14000+ passengers in 2020.