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June 29, 2022

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Morocco launches a $714 million project to expand the port of Tangier

Tangier Med Port, located on the Strait of Gibraltar in northern Morocco, represents a logistics center connected to more than 180 ports around the world.
The Kingdom of Morocco seeks to carry out expansion work for the “Tangier Med Port” as part of its endeavor to enhance trade opportunities, create new investment opportunities, and strengthen its logistical role, by raising the capacity of the passenger and truck terminal, developing the import area, and increasing the container handling capacity in the port.


According to a disclosure document issued by the World Bank’s Multilateral Investment Guarantee Agency (MIGA), the cost of the port expansion works is $714 million.
Tangier Med Port, located on the Strait of Gibraltar in northern Morocco, represents a logistics center connected to more than 180 ports around the world.
The port’s capacity is 9 million containers, and the Tangier Med Special Agency (TMSA) manages the complex, which includes ports for goods and passengers and several economic zones.


Through its subsidiary, the Tangier Med Port Authority, the port plans to raise 350 million euros to finance part of the project’s investment expenses, including 100 million euros as a loan from the International Finance Corporation (IFC), affiliated with the World Bank, and commercial loans amounting to 255 million euros, requested by JB Bank. Morgan Chase” in London covered.

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