- HMM Launches Major Expansion of Spanish Terminal TTIA.
- HMM and CMA CGM Back €150 Million Algeciras Terminal Upgrade.
- TTIA Expansion to Boost Capacity to 2.8 Million TEU by 2028.
HMM announced on July 2 that it’s set to expand its Terminal de Contenedores de Algeciras (TTIA) in Spain, a move that represents a major investment to bolster its logistics network across Europe, reports Business Korea.
150 Million Euro Investment Planned
On June 30, HMM sent a letter of intent to the Algeciras Port Authority to kick off the first phase of development for the southern section of TTIA. The total investment for this project is projected to hit 150 million euros (around 240 billion won), with HMM putting in 35 million euros. The remainder will be covered by CMA CGM, the terminal’s second-largest shareholder, along with some external financing.
Capacity to Increase by 500,000 TEU by 2028
Currently, TTIA is a semi-automated terminal that spans 300,000 square meters and has an annual handling capacity of 1.6 million TEU. The initial phase of expansion will enlarge the terminal area to 460,000 square meters, boosting its capacity to 2.1 million TEU by 2028. There’s also a second phase in the works, which will ultimately raise the terminal’s capacity to 2.8 million TEU.
To accommodate this growth, the terminal’s operational period will be extended by 22 years, shifting from 2043 to 2065.
Strategic Role in Southern Europe
An HMM official emphasised the strategic value of the expansion: “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 also noted future ambitions: “We plan to actively invest in and develop overseas terminals in the future.”
Background of TTIA Ownership
HMM took full ownership of TTIA back in 2017. Then, in 2020, they decided to sell half of their shares to the French shipping powerhouse CMA CGM, forming a strategic partnership that continues to enhance the terminal’s growth and operations.
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Source: Business Korea
