This morning, the South Korean shipping company, HMM, presented its expansion plan for Total Terminal International in Algeciras, which it co-owns with CMA CGM.
The project entails a €150 million investment. HMM will contribute €35 million. CMA CGM will cater for the rest. It is designed to increase the terminal’s annual traffic capacity from 1.6 million to 2.8 million TEUs.
The project is divided into two parts. The first phase involves the expansion of the terminal area from 300,000m2 to 460,000 m2, increasing its capacity to 2.1 million TEUs 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 its intention to “actively invest in and develop overseas terminals in the future”
Translation by Giles Foster
