European Operators Invest in Moroccan Terminal
Marsa Maroc, the leading port operator in Morocco, has announced the signing of a joint venture agreement with Eurogate International GmbH and Contship Italia, who will become shareholders in Marsa International Tangier Terminals SA (MINTT).
Eurogate Group is one of Europe’s leading independent terminal operators, offering value-added intermodal services, while Contship Italia also operates container terminals around the continent.
On March 15, 2019, Contship announced that it had entered negotiations with MSC Mediterranean Shipping Company to sell 50% of its shares in Medcenter Container Terminal (MCT), the largest facility of its kind in Italy.
Operating ten ports around the country, Marsa Maroc has provided port logistics services within its own concession area since it was founded in December 2006.
MINTT, which previously had Marsa Maroc as a sole shareholder, is the concession holder company for the design, financing, construction, operation and maintenance of Container Terminal 3 of the Port of Tanger Med extension.
The terminal, which is expected to be commissioned by the middle of 2020, has a nominal capacity of 1.5 million TEU.
While the transaction was cleared on January 31, 2019, the finalization of the operation is subject to the completion of the share capital increase.