Eurogate, Contship Enter JV with Marsa Maroc for Moroccan Terminal
Terminal operators Eurogate International GmbH and Contship Italia SpA have decided to become shareholders of Marsa International Tangier Terminals SA (MINTT), a subsidiary of Moroccan port operator Marsa Maroc.
On March 15, 2019, Germany’s Eurogate and Italy’s Contship signed a joint venture agreement for their entry in the share capital of MINTT.
MINTT is a concession holder company for the design, financing, construction, operation and maintenance of the container terminal 3 of the Port of Tanger Med extension.
The terminal has a nominal capacity of 1.5 million TEU and is expected to be commissioned mid of 2020.
The new transaction, reported to the Competition Council, was cleared on January 31, 2019. The finalization of this operation is subject to the completion of the share capital increase, according to Marsa Maroc.
Founded on December 2006 following port reform, Marsa Maroc operates ten ports in Morocco. The company provides port logistics services within its concession area.