Tanger-Med Port attracts new $120 Mln private investments

Tanger-Med Port attracts new $120 Mln private investments

In 2021, $120 million private investments were injected in 28 new projects in all Tanger Med’s activity zones, says the port’s management in its latest newsletter.

The new projects created 4397 additional jobs. They were made by private entities and corporations from UK, USA, France, Italy, Ireland, China, Portugal, Japan, Germany, Belgium, Spain…

The list of investors includes Nippon Express, a Japanese 3PL logistics company, Ravago, a Belgian company specializing in industrial grade polymers and recycled plastics, Mondi, an international packaging and paper manufacturing group, Boa, leader in the field of natural casing, Sonofet, a company specialized in the production of thermal insulation panels, etc.

Simultaneously, 8 companies operating within the industrial platform launched plans to extend their activities in 2021, including TE Connectivity, Indore and Siplas in “Tanger Automotive City” zone, and the automotive supplier Polydesign Systems in “Tanger Free Zone”.

On the logistics side, 8 new operators have started their activities in Tanger Med Logistical zone, including: GEFCO, Dachser, TE connectivity, APTIV, etc. These projects concerned in particular the commissioning of 40,000 m² of advanced supplier warehouses (MAF) dedicated to automotive logistics.

Business volume generated in Tanger Med increased by 26 pc compared to 2020, going up to $9.2 billion in 2021 thanks to the good performance of the automotive sector ($6.2 billion, up 24 %), textiles & aeronautics sectors ($1 billion) and logistics sector ($2.1 billion)

The automotive sector boom is driven by new projects launched in the “Tanger Automotive City” zone.

As to the Tanger Med port proper, it is in the lead in Africa, and ranks 23rd among the largest ports worldwide, according to the latest report from the maritime data provider Alphaliner.

With over 7.1 million twenty-foot equivalent units (TEUs) containers handled in 2021, the Tangier port features among the top 100 largest ports in the world.

The port continues showing positive indicators despite the COVID-19 pandemic. The positive results are due to the launch of container terminals TC4 and TC3 in Tanger Med 2 in 2019 and 2021, respectively.

In 2021, Tangier Med port alone processed over 50% of the total port tonnage of Morocco, handling 101 million tons of goods, up by 25% compared to 2020.

The outstanding performances achieved by Tanger Med in recent years consolidate its strategic role in becoming a leading hub in the Mediterranean and Africa.

Share This