Morocco is set to open new terminals at Tanger Med port, the biggest port in Africa in bid to drive more investment and manufacturing to the country.
The new terminal will allow the port to surpass the Mediterranean’s largest ports Algeciras and Valencia in terms of container capacity. This will see Tanger add six million in capacity after its extension worth US $1.5bn.
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Tanger Med port
The port is about 50 kilometers west of Tangier, the main city in northern Morocco, allowing space for expansion. Morocco invested US $1m in the first terminal which also created 6,000 jobs at the port and 70,000 others in a trade zone in the area.
Tangier also has a ferry terminal carrying some 40,000 people per day in the summer peak season as Moroccans living in Europe cross the Mediterranean. The terminals are operated by APM Terminal, and owned by Denmark’s Maersk, Germany’s Eurogate and a local firm.
According to Tanger port director Rachid Houari, the port will further offer a platform for exports by local production plants of French car makers such as Renault SA and Peugeot SA.
Houari stated that he is hoping to add one million TEU of containers every year. The biggest market which is the West Africa has 40% share where Moroccan firm have expanded heavily in recent years. 90% of of the container volumes that pass through the port are moving to other destinations, 20% to Europe while 10% to Africa.
