APM Terminals has confirmed it has invested over 5.6 billion kroner in a new terminal in the Moroccan port city of Tangier.
The Maersk subsidiary has signed a 30-year agreement with the local port authorities, and the new terminal will be ready to use by 2019.
“APM Terminals has been in Morocco since the creation of our first company APM Terminals Tangier in March 2005 in partnership with AKWA Group and the start of port operations in July 2007.”
“APM Terminals MedPort Tangier will bring important innovation and future capacity into the West Med market on one of the world’s most strategic seaways: the Strait of Gibraltar,” said APM Terminals CEO Kim Fejfer.
The news comes in the wake of the company investing about 14 billion kroner into a new port in Bagadry, Nigeria – its biggest ever investment.