Taranto Cruise Port agreement

Global Ports Holding Plc, the world's largest independent cruise port operator, is pleased to announce that, the Port Network Authority of the Ionian Sea (”Port Authority”) has awarded Global Ports Holding a 20-year concession to manage the services for cruise passengers in the Port of Taranto, Italy.

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 the end of 2020.

GPH and Port Authority will now work towards agreeing the terms of a concession agreement. 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. The concession is expected to start in Q1 2021.

In 2019, the Taranto Cruise Port welcomes c9k cruise passengers, with a pre Covid-19 forecast of over 14k passengers in 2020.