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Article: Shipping hub takes shape: Morocco is realising its largest ever port construction project and providing new competition for Algeciras in Spain.(MOROCCO)(Tangier Mediterranean Special Agency )
- Article from:
- MEED Middle East Economic Digest
- Article date:
- October 12, 2007
- Author:
CopyrightCOPYRIGHT 2007 MEED Middle East Economic Digest. All Rights Reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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If there is one thing Moroccan authorities should be given credit for, it is their ability to meet deadlines. The first phase of the Eur 1,400 million ($2,000 million) Tangier-Mediterranean (TangMed) deepwater port opened on time in July and is due to operate at full capacity by the end of October.
The first container terminal has been let under a 30-year concession to AP-MollerMaersk. The project is being managed by TangMed Special Agency (TMSA), a public limited company created to manage the scheme in 2002. Funding has been split roughly equally between the private operators and the TMSA.
The next phase of the project, ...