APM Makes New Port Investment in Morocco
- Business & Finance
APM Terminals has been named as the operator of a new container transshipment terminal at the Tanger Med 2 port complex.
The new terminal will have annual capacity of five million TEUs. Total investment in the new terminal is expected to be EUR 758 million.
The new terminal is scheduled to open in 2019, under the terms of a 30-year concession agreement with the Tanger Med Special Agency (TMSA), which has responsibility for the development and management of the Tanger Med port complex.
APM Terminals MedPort Tangier will feature state of the art technology and have up to 2,000 meters of quay length and will feature the technology pioneered at the APM Terminals Maasvlakte II Rotterdam terminal which opened in 2015.
The quay wall construction and site reclamation for the first 1,200 meters has been completed by the Tanger Med Port Authority, which is part of TMSA.
For APM Terminals the Western Mediterranean is an important market. APM Terminals Algeciras, on the Spanish side of the Strait of Gibraltar, operates in tandem with APM Terminals Tangier as an integrated Western Mediterranean transshipment hub.
APM Terminals Algeciras handled more than 3.5 million TEUs in 2015, and has completed a major upgrading of its cranes and quay infrastructure to accommodate Ultra-Large Container Ships (ULCS) of 18,000 TEU capacity and above.