Tangier Mediterranean Port - First Container Terminal

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In November 2004, a consortium led by APM Terminals, the port operating arm of Denmark's A.P. Moller-Maersk, was awarded a 30-year BOT contract by the Tangiers Mediterranean Special Agency (TMSA) to develop a greenfield container terminal at the Tangier Mediterranean Port, Morocco. This container terminal was designed to have a capacity of 1.3 million TEU per annum. APM Terminals Tangier S.A (APMTT), a joint venture between AP Moller Maersk (90%) and Casablance based AKWA Group (10%), was established in March 2005 to implement this project. The winning consortium won this project in an international competitive tender, conducted by TMSA, by beating the other finalist – a constorium of France’s CMA-CGM, Taiwan-based Evergreen and the UK’s P&O. The total cost of the container terminal was estimated at US$ 200 million ( 160 million euros) . In addition, APMTT was expected to pay a monthly rental fee that was estimated to total US$ 125 million over the term of the contract and also guarantee the utilization of the terminal's capacity. Information on the details of the financial closure was not available from public sources. Construction work began in May 2006. The terminal was scheduled to commence full commercial operations in September 2007. Unable to find the year of FC. Hence using constract sign date. E-mail contact at APM: CENAPMTPRJ@apmterminals.com None