Morocco will launch new terminals at Tanger Med port on June 27, enabling it to pass the Mediterranean’s largest ports Algeciras and Valencia, as far as container capacity is concerned. This move will also lead to more investment and manufacturing to the country.
Tanger Med is the biggest port in Africa, featuring an annual volume of 3.5 million TEUs in 2018. Now, as Reuters reports, it will add six million in capacity after its extension worth 1.3 billion euros. With this development, Morocco aspires the port to reach volumes of 4.5 million TEU by 2019 end, like Algeciras in southern Spain.
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In addition, authorities at the port want to establish its role as a calling point for container shipping companies, especially between Asia, Africa and Europe. In fact, port director Rachid Houari highlighted that he hopes to add one million TEU of containers every year, but did not estimate future volumes.
He added however, that about 90% of container volumes passing through the ports are going to other destinations. Currently, the biggest market, with a 40% share, is West Africa, where Moroccan companies have heavily expanded, while around 20% goes to Europe and 10% to the Americas.
As of now, Morocco has invested 1 billion euros in the first terminal which has led to about 6,000 jobs at the port and 70,000 others in a trade zone in the area. The port is located around 50 kilometers off Tangier, meaning that there is space for expansion.
Tangier also features a ferry terminal which is able to carry around 40,000 people per day in the summer peak season.
