Global Ports Holding (GPH) announced on Friday that its partner Baleària Group has been awarded a 35-year concession agreement for the ferry and cruise port of Valencia, with a 15-year extension option.

As part of this agreement, GPH will operate and manage Valencia Cruise Port. 

Under the terms of the agreement, Baleària will invest up to $37,000,000 into the port infrastructure, including two new state of the art smart terminals, as well as investment into ferry piers, car parking and retail and food and beverage areas.

Operating 19 cruise ports in 13 countries, GPH will bring its expertise to the project and its commitment to a more sustainable cruise offer with less environmental impact, the company said.

The concession is expected to start in Q1 2021, with the expected two-year investment phase starting at the same time.

The new terminals will set a new benchmark for sustainability in the passenger transport industry, according to GPH, producing 100 percent of their electricity needs from their own renewable energy source’s with all waste generated being recycled.

In 2019, the port of Valencia received 203 cruise calls and welcomed 435,000 cruise passengers, with a pre-COVID-19 forecast of over 500,000 passengers in 2020.