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).


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