The Nador West Med port complex in northern Morocco is to receive €57 million investment funding for the ongoing construction. The funds will come from the African Development Bank Group‘s (AfDB).
Since 2015, it is said that the AfDB will have invested a total of €113 million in the Moroccan port with the next round of funding.
According to a statement by the African Development Bank, the Nador West Med port complex project includes plans for two twenty-foot equivalent container terminals with a capacity of three million units; a specialized bulk station with a capacity of four million tonnes; and a general cargo terminal with a capacity of 33 million tonnes.
As per the announcement, the Nador West port complex is located near the recently opened integrated economic zone’s commercial, industrial, and logistics center. The project is situated at the crossroads of major container and hydrocarbon transport routes, according to AfDB General Manager for North Africa, Mohamed El Azizi, who commented on the investment fund’s approval.
The construction of the Nador West Med port complex strengthens Morocco’s presence on the world’s marine routes, he added. He claimed that it would be a deciding factor in the Oriental region’s attractiveness and a great catalyst for regional integration and development.
The project, according to AfDB Country Manager in Morocco, Achraf Hassan Tarsim, illustrates the transformative nature of state-of-the-art infrastructure in compliance with international environmental standards.
The Project’s objectives
Nador West Med port complex seeks to improve its logistical competitiveness, in addition to its potential to create jobs and encourage regional economic development. Morocco’s connectivity to international hydrocarbon supply routes is expected to improve as a result of the new infrastructure project, which is an extension of the successful Tanger Med port, which was initially launched in 2004.