(Alliance News) - Global Ports Holding PLC said its 80%-owned joint venture Global Ports Canary Islands SL has completed the request for proposal process to take over operations of three cruise ports in the Canary Islands.
In July, the London-based cruise port operator had agreed on concessions terms for the Las Palmas de Gran Canaria cruise port, and in November had been awarded preferred bidder status for the Las Palmas, Arrecife and Puerto del Rosario ports.
The concession for Las Palmas is for 40 years and the concessions for the two other ports are for 20 years.
Global Ports is expected to take over operations of the three ports in the fourth quarter of 2022, which will bring the number of ports in the company's network to 24.
"The addition of these ports to our network is a testament to the strength of GPH's proposition as the world’s largest independent cruise port operator. We help create well-run, well-invested world-leading cruise port facilities for the benefit of all stakeholders," said Chair and CEO Mehmet Kutman.
Shares in Global Ports Holding were down 4.8% at 87.11 pence on Tuesday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Global Ports (GPH)