TiL unveils €700 million investment for Le Havre

Le Havre, France. June 11. 2022. Metal boxes for the transport of commercial goods on the dock.

Terminal Investment Limited (TiL) has announced a €700 million ($709 million) investment drive into the TPO/TNMSC container terminals at Le Havre.

TiL, MSC’s terminal division, is the sole shareholder of the terminals.

This investment will lead to the creation over the next six years of 900 jobs for dockers and 200 for maintenance workers.

The cash funding will also prepare the port for the processing of the world’s biggest cargo ships, including the new generation of 24,000 TEU vessels.

TiL is installing gantry cranes, doubling the number at the terminal to 20.

TiL will also be tripling the terminal’s storage capacity with the installation of fleet gantries at six berths.

The new gantries will be electrically powered and the port will provide shore power for ships.

This project, led by HAROPA Port du Havre, will mean ships will not need to use their engines while docked.

The conversion project will be completed by 2028.

READ: MSC, TIL propose $6 billion deal for Vietnam’s largest port

These modernisation plans are the result of an agreement between the dock workers’ union, TiL and the TPO/TNMSC terminals.

Ammar Kanaan, CEO, TiL, commented: “By implementing this initiative we will be able to grow and densify our capacity to help Le Havre become an even more significant access point for the French cargo market, and beyond.

“In order to realise Le Havre’s full potential as a gateway to Europe we are counting on the French government’s support for the development of the related intermodal rail infrastructure that will further enhance the link between our container terminals and European supply chains.

“As a cargo port, Le Havre has a long and distinguished history with its roots in the sixteenth century. It is already in an ideal position geographically to provide import and export facilities for continental Europe.

“We consider that the development of new rail and waterway links will make it even more attractive, driving up the volume of cargo we expect to handle in the coming decades.”

Stephane Raison, HAROPA’s CEO and Chair of the Management Board, added: “We are proud to have worked in confidence with TiL to make HAROPA PORT, France’s leading port, a reference container hub in Northern Europe for MSC and its customers.

“HAROPA PORT enters a new dimension on the North Europe row as the first port for imports from France and Europe, and the last port for exports at the service of shipper and shipowner customers.”

Main shareholders for TiL include are US Global Infrastructure Partners (GIP) and Singapore Government Sovereign Wealth Fund (GIC).

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