COPENHAGEN, March 31 (Reuters) – The world’s third largest port operator APM Terminals stated it can make investments 758 million euros ($858.3 million) in a brand new transhipment terminal in Tangier, Morocco, that would be the first automated terminal in Africa.

The new container terminal can have an annual capability of 5 million 20-foot equal items (TEU), and APM Terminals has the correct to function the port for 30 years.

APM Terminals, a unit of Denmark’s delivery and oil group A.P. Moller-Maersk, is at present working a port facility in Tangier that dealt with 1.7 million TEUs in 2015.

A.P. Moller-Maersk additionally controls the world’s largest container delivery firm, Maersk Line and it has dedicated to make use of the brand new amenities.

“At a time when the container shipping industry is in crisis due to low global growth and too many vessels for too few goods to move it is important we are able to invest in bigger and more effective port facilities,” Chief Executive Kim Fejfer from APM Terminals stated.

Tangier is the second-busiest container port on the African continent after Port Said, Egypt and the situation of Tangier gives a pure transhipment location for containers carrying something from flat-screen televisions to sportswear from Asia to Europe and Africa.

APM Terminals additionally see excessive progress in Africa will demand extra and higher infrastructure on the continent.

“Significant investment in port and transportation infrastructure will be required to meet the anticipated needs of the expanding African population and corresponding economic growth,” it stated.

APM Terminals is the biggest port operator in Africa with 12 amenities operational in 10 nations. (Reporting by Ole Mikkelsen, enhancing by David Evans)

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