Turkish port operator Yilport, which operates four terminals in Turkey and one in Malta, has acquired 80 % of shares in Gävle Container Terminal (GCT) in Sweden. Terms of the transaction were not disclosed.
The Gävle municipality will retain the other 20% of shares.
Yilport says that it will upgrade the equipment, including cranes, and the Terminal Operating System (TOS). Yilport aims to make Gävle the second largest container terminal in Sweden after Gothenburg.
The operator says the terminal has a "highly strategic value" and it plans to expand its activities through increased integration with the dry bulk and liquid terminals of the Gävle Hamn port.
Göran Arnell, Municipal representative on the company board, said:
"Yilport is an excellent partner and owner of the Gävle Container Terminal. It is a well-known port company that manages large ports," claims."
Yilport says it's also looking in to other opportunities to develop satellite ports to support GCT and create a corridor between the Baltic region, Gävle and Oslo, which will put GCT at the centre of activity between East and West.
This latest move is part of Yilport's aim to be among the top 10 port operators globally in the next 10 years.
This is Yildirim Group's second big investment in Sweden, as it acquired ferrochrome producer Vargon Alloys AB in 2008. The group made a joint bid with CMA CGM, in which it holds a 20% stake, for the Skandia Container Terminal, Gothenburg concession, which went to APM Terminals.