TANGER MED GROUP AND CMA CGM SIGN PARTNERSHIP AGREEMENT

On Monday, October 28, 2024, alongside the ceremony for the signing of agreements between Morocco and France, presided over by His Majesty King Mohammed VI and Mr. Emmanuel Macron, Tanger Med Group and CMA CGM signed a strategic partnership for port development and maritime decarbonization. The agreement was signed by Mr. Fouad Brini, Chairman of Tanger Med Group, and Mr. Rodolphe Saadé, Chairman of CMA CGM.

The partnership covers the creation of a new transshipment platform at the Port of Nador West Med’s EAST container terminal, recently awarded to Marsa Maroc in June 2024. This new entity will be operated as a joint venture, 51% by Marsa Maroc and 49% by CMA CGM, and will cover 50% of the terminal’s infrastructure, i.e. 750 meters of quay and 35 hectares of terminal yard.

Under a 25-year sub-contract, CMA CGM Group and Marsa Maroc will make major investments to the tune of $280 million to develop the terminal, with the goal of reaching an annual capacity of 1.2 million TEUs within the next six years, in support of CMA CGM’s shipping alliance. The project includes a section devoted to maritime decarbonization, notably through the promotion of green hydrogen, in line with the “Morocco Green Hydrogen” (Maroc Hydrogène Vert) initiative.

This agreement marks an important step in consolidating Morocco’s strategic role in international shipping and green economy