Global Ports Holding Has Taken the First Step for Riga Passenger Terminal
08 April 2015
Global Ports Holding (GPH), a fully-owned subsidiary of Global Investment Holdings and currently the operator of eight commercial and cruise ports, of which three are in Turkey, signed a non-binding letter of intent for the acquisition of the cruise and ferry passenger terminal activities of Riga Passenger Terminal LLC.
Commenting on the signed non-binding letter of intent, Mr. Saygın Narin, CEO of Global Ports Holding, said, “Our growth strategy in cruise port operations encompasses the potential acquisition of additional strategically located ports, particularly in the Mediterranean, but also in new geographies where cruise tourism is developing.” Mr.Narin underlined that, in addition to being the largest city of the Baltic States, Riga’s historic center is included on the UNESCO World Heritage list, making it an attractive site for cruise tourism with its cultural and architectural features. In 2014, Riga Passenger Terminal served 67,000 cruise and 560,000 ferry passengers, whereas we expect a significant increase in the number of passengers of this port, should the transaction be concluded, primarily steamed by GPH’s effective marketing platform that encompasses a growing portfolio of ports in three continents.
