The world’s third largest port operator APM Terminals said it will invest 758 million euros ($858.3 million) in a new transhipment terminal in Tangier, Morocco, that will be the first automated terminal in Africa.
The new container terminal will have an annual capacity of five million 20-foot equivalent units (TEU), and APM Terminals has the right to operate the port for 30 years.
A.P. Moller-Maersk also controls the world’s largest container shipping company, Maersk Line and it has committed to use the new facilities.
Tangier is the second-busiest container port on the African continent after Port Said, Egypt. APM Terminals is the largest port operator in Africa with 12 facilities operational in 10 countries.