Cargo Business Newswire

Monday, April 4, 2016

Maersk’s APM invests in new Moroccan port

A.P. Moeller-Maersk's port operator arm APM Terminals will invest $863 million in a new transshipment terminal in the Moroccan port city of Tangier, the company announced Thursday.

The new terminal will have an annual capacity of five million TEUs and is expected to be operational in 2019, under the terms of a 30-year concession agreement with the local port authorities, APM Terminals said in a statement.

It will complement the current operations of the existing APM Terminals Tangier facility at Tanger

Med 1 port, which started operations in July 2007 and handled 1.7 million TEUs in 2015.

The Tanger-Med port complex is strategically located on Africa's northwest coast near the mouth of the Mediterranean Sea.

According to Maersk, the new APM Terminals MedPort Tangier terminal will increase the port's total annual throughput capacity to over nine million TEUs.

For more of the Xinhua news story: news.xinhuanet.com