Today, Global Ports Holding Plc (“GPH”), the world’s largest cruise port operator, signed a 20-year concession agreement to manage the cruise passenger terminal of the Port of Taranto, Italy, according to the company's release. This agreement follows the announcement made by GPH on the 16 November 2020 that the Port Network Authority of the Ionian Sea had issued an award decision to grant a concession to GPH subject to entering a final concession agreement.
The cruise port infrastructure in Taranto is currently undergoing a state funded, c€28m investment program, including the building of a new cruise terminal. The construction of these new facilities is expected to be completed by March 2022. Following the successful execution of the concession agreement, GPH will use its global expertise and operating model to manage the cruise port operations in Taranto. In 2019, Taranto Cruise Port welcomed c9k cruise passengers, with a pre Covid-19 forecast of over 14k passengers in 2020.
Located in Southern Italy, the city of Taranto, was founded by the Spartans during the Greek colonization of the coast of Southern Italy. Through the years the city became a cultural, economic, and military power. Today it is one of the largest continental cities in southern Italy and an important commercial and naval port.