APM Terminals blows hot and cold at Tanger-Med

The company is already the majority (90%) partner in a joint venture with the Akwa group, with whom it already operates a terminal in Tanger-Med I.

APM Terminals gives three reasons for delaying investment. Firstly, there has been a 50% reduction in container traffic, which is directly impacting on cash flow. The new investment would not help the company in this respect.

Secondly, the high level of taxation being levied in the port is a factor, with up to 30% of the workforce possibly being shed.

Thirdly, there is difficulty in financing the project at the moment.