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Tanger Alliance Signs Long-term Credit Facikity Of €133 Million

Tanger Alliance signs long-term credit facikity of €133 million

Tanger Med, Morocco (PortSEurope) January 12, 2021 – Tanger Alliance, a joint venture of Marsa Maroc, Contship Italia, Eurogate International and Hapag Lloyd, has signed a long-term credit agreement with a consortium of Moroccan banks for €133 million ($137.34 million). The bank consortium comprises Banque Centrale Populaire Group, mandated arranger; Attijariwafa bank Group, co-arranger; and Bank of Africa Group and CIH Bank. The 16-year facility will
be used to part-finance of the construction costs of Container Terminal 3 at Tanger Med 2 (TC3), which has a total investment of around €175 million. Last month, Tanger Alliance has received its first vessel in the new container terminal three (TC3). With a quay length of 800 m, a terminal area of 360,000 m² and a water depth of 18 m, 8 Super Post Panamax (25 rows) gantry cranes with a lifting capacity of 65t, 22 RTG’s, 40 terminal tractors, and 4 reach stackers, TC3 is ready to operate on the newest and largest container ships, offering high productivity and 24/7 operations all year round. Handling capacity is 1.5 million TEUs. Copyright (C) PortSEurope. All Rights Reserved. 2021.

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