In June 2006, Valletta Gateway Terminal (VGT) was awarded a 30-year concession agreement to operate and manage the Grand Harbour Terminals, capable of handling Roll on/Roll off operations, trailers, containers, continental cargo and vehicles.
VGT is a joint venture between the Portek Group, whose headquarters are in Singapore, and the Tumas Group, one of Malta’s leading diversified business groups. The Portek Group is renowned as a leading turnkey provider of equipment, services and solutions for the global port industry and has interests in the Asia-Pacific region, Europe, the Mediterranean, Africa and the Americas.
In August 2011, Mitsui, one of Japan’s leading general trading companies, acquired Portek Group, thus expanding exponentially in one stroke, their hold on the ports business worldwide.
Mitsui is one of the most diversified and comprehensive trading, investment and service enterprises in the world, with 155 offices in 69 counties as of February 2012. Using its global operating locations and network and information resources, Mitsui is multilaterally pursuing business that ranges from product sales, worldwide logistics and financing, through to the development of major international infrastructure and other projects in the following fields: iron and steel products, mineral and metal resources, infrastructure projects, motor vehicles, marine and aerospace, chemicals, energy, foods and retail, consumer services, information, electronics and telecommunications, financial markets and transportation logistics.
For more information, visit www.mitsui.com
VGT Malta managing director Peter Darley emphasised that, through the acquisition of Portek and the value the Portek brand stands for within the global port industry, Mitsui stands to grow significantly by adding the Portek operations worldwide to its portfolio.
Asked about the advantages of Mitsui’s investment to the Malta VGT operation, Mr Darley said that with Mitsui’s formidable financial resources, networks, synergies and logistics operations worldwide, VGT in Malta will be in a stronger position to accelerate its growth through its strategic importance as a hub in the Mediterranean and North African region.