HMM and CMA CGM to expand Algeciras terminal
The two are the big stakeholders in Total Terminal International Algeciras
Throughput at the terminal will increase by nearly a third when the first phase of the expansion is complete, rising to 75% after phase two
SOUTH Korean carrier HMM has submitted plans to expand its terminal at the port of Algeciras.
Alongside fellow owner CMA CGM, the two will invest €150m ($176m) in Total Terminal International Algeciras to increase its throughput to 2.8m teu once both phases of the expansion are complete, up from its current capacity of 1.6m teu. HMM will stump up €35m with CMA CGM providing the remainder.
Phase one of the project will see the terminal’s area expanded to 460,000 sq m and its capacity increased to 2.1m teu by 2028.
“The Algeciras terminal is a major transhipment hub in Southern Europe and a gateway for Spain’s imports and exports and will play a major role in generating terminal revenue as well as enhancing competitiveness on European routes,” HMM said, confirming that it plans to “actively invest in and develop overseas terminals in the future”.
