Allen & Overy Casablanca announced it has advised APM Terminals, a subsidiary of AP Moller Maersk group, on its being awarded the concession for a container terminal within the Tangier Med 2 port complex, by the Tangier Mediterranean Special Agency (TMSA), the public entity in charge of the development and management of the Tangier Med seaport complex in Morocco.
The 30 year concession agreement represents an investment of EUR 758 million and includes the design, construction, financing, operation and maintenance of the terminal which will be dedicated primarily to transshipment activities.
The concessionaire will be responsible for the terminal buildings, container handling equipment and integrated automated systems.
This fourth container terminal, which will have a quay length of 1 600m, with an extension option of 400m and is set to open in January 2019 with a forecasted annual capacity of 4.2 million TEU, making it the largest terminal of its category on the African continent.
The award of this new concession will increase the port’s total annual capacity to over 9 million TEU and therefore consolidate the position of Morocco as a leading port destination in the Strait of Gibraltar.
The Allen & Overy team was led by partner Hicham Naciri, Senior Associate Antoine Haddad and Associate Zineb Ramid from our Casablanca office.
Willkie Farr & Gallagher advised TMSA with a team led by partner Amir Jahanguiri and associates Roy Charles Bates and Idama Al Saad.