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The company says that its purchase of a 10% interest in Container Terminal 3 (TC3) of the Tangier Med 2 port in Morocco ‘marks yet another important step towards assuming an even more prominent role in the development of this attractive growth market.’

Hapag-Lloyd says that its acquisition of a minority stake in the TC3 terminal, located on the southern coastline of the Strait of Gibraltar, will ‘help to link the attractive African markets and the entire Mediterranean even more closely with the liner shipping company’s global network of services.’

Once it is fully operational, which is expected to happen in mid-2020, the terminal will have an annual capacity of around 1.5 million TEU. Other principal shareholders in the terminal are the Moroccan port operator Marsa Maroc (50% plus one share) as well as Contship Italia and Eurogate (together 40% minus one share).

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