Econostrum | Economic News in the Mediterranean
     

Tanger Med injects €133m into its third container terminal


Written by Eric Apim on Monday, January 11th 2021 à 18:28 | Read 322 times



The third Tangier Med terminal will be fully operational by summer 2021 (photo: F.Dubessy)
The third Tangier Med terminal will be fully operational by summer 2021 (photo: F.Dubessy)
MOROCCO. On Thursday 7 January 2021, Tanger Alliance (a subsidiary of Marsa Maroc, Contship Italia, Eurogate international and Hapag-Lloyd) signed a €133m long-term credit agreement. Designed in the form of "project finance" and granted by a banking consortium led by Banque Centrale Populaire (BCP), arranger, and Attijariwafa bank group, co-arranger, with Bank Of Africa (BOA) and CIH Bank, this loan will have a maturity of sixteen years.

The sum injected will be used to finance part of the costs of the construction of the third container terminal (TC3) of the port of Tanger Med.

This terminal extends over 36 hectares and 800 linear metres of quay based at a depth of eighteen metres. It comprises eight quay cranes (STS) for loading and unloading containers and twenty-two gantry cranes (RTG) for container storage.

After eighteen months of works and €175m of investments led by Tanger Alliance, the third container terminal of the Tanger Med 2 port was put into commercial service by Marsa Maroc on Friday 1st January 2021 with the reception of a first ship. The new infrastructure will be fully operational by June 2021 at the latest and will eventually offer a capacity of 1.5 million TEUs (twenty-foot equivalent containers).
 



   Partners









About Econostrum.info Econostrum.info is an independent media that deals with the daily economic news of the countries bordering the Mediterranean. Economic cooperation, business news by sector (Industry, Services, Transport, Environment, Society/Institutions), thematic files, airport news, airlines and shipping companies (new destinations)... are treated and analysed by a team of journalists present in the Mediterranean basin. Subscribe to Econostrum.info To be the first to know, with unlimited access to all articles. To receive the weekly newsletters and special newsletters sent as soon as our files are published. Automatically renewable subscription, but the reader keeps control of it or yearly subscription. For individuals or professionals...