Tangier Med Port II: APM Terminals Invests 8.5 bln MAD in New Container Terminal

Tangier Med Port II: APM Terminals Invests 8.5 bln MAD in New Container TerminalThe Tangier Med Special Agency (TMSA) and the group APM Terminals signed, on 31st March 2016, a partnership agreement for the granting of a new container terminal to the APM Terminals in Tangier Med II.

The agreement was signed by Fouad Brini, President of TMSA board of directors and Kim FEJFER, CEO of APM Terminals.

The concessionaire will undertake, on the quays delivered by TMSA, an investment of 758 Million euros pertaining to container platform, the superstructures and terminal equipment.

The terminal is scheduled to commence operations in 2019 with a traffic of 4.2 Million containers Twenty Equivalent Unit (MTEU), said a statement by the Tangier Med Port authority (TMPA) on Thursday.

The perimeter of new Container Terminal 4 (TC4) concession includes 1,600 linear meters of quays and 76 Ha of container platform and will be of initial duration of 30 years, it said.

An extension option is reserved, including 400 linear meters of quays and 18 Ha of container platform is reserved, the same source said, noting that the subsequent investment represents 140 Million euros and an additional traffic of 1 MTEU.

At completion, the new concession could extend to 2000 lm of quays and 94 Ha of container platforms, representing a total investment of 900 Million euros and subsequent traffic of 5.2 TEU, the statement said.