HMM expand Algeciras Terminal in Spain
Submits Letter of Intent to Spanish Port Authority; Annual Handling Capacity to Reach 2.8 Million TEU by 2028
TTIA is a modern semi-automated terminal with a total area of 300,000 square meters and an annual handling capacity of 1.6 million TEU. Through this first phase of expansion, the plan is to increase the total area to 460,000 square meters and the annual handling capacity to 2.1 million TEU by 2028. Upon completion of the second phase of development, the annual handling capacity will reach 2.8 million TEU. To facilitate smooth development, the terminal operation period will be extended by 22 years from the existing 2043 to 2065.
An HMM official stated, “The Algeciras terminal, as a major transshipment hub in Southern Europe and a gateway for Spanish imports and exports, will play a significant role not only in generating terminal revenue but also in strengthening the competitiveness of European routes.” The official added, “We plan to actively invest in and develop overseas terminals in the future.”
HMM acquired 100% of TTIA shares in 2017 and sold 50% of the shares to French shipping company CMA CGM in 2020 for strategic alliance purposes.
Source:Business Korea
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