Malta Freeport goes to CMA CGM
The long drawn-out privatisation process at Malta Freeport has finally been concluded with CMA CGM taking a 30-year concession from the government for $421m. P& O Ports will manage the Freeport which will be operated as a common user facility.
The dominance of Maersk can be seen in figures released by Algeciras port authority covering January and February 2005 during which throughput at the port amounted to 501,514 TEUs.
The French carrier has agreed to invest up to €12m on new equipment and raise capacity to 2.3m TEUs.
New working practices aimed at improving productivity will be introduced.
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