EUROPE

Marseilles approves Fos 2XL terms with MSC

22 years ago

The Port of Marseilles Authority (PMA) has approved the terms of the agreement under which MSC is to operate one of two new facilities within the ports Fos 2XL container terminal development. The MSC concession covers 700 metres of quay and 54 ha shoreside.

Marseilles: MSC gets 35-year concession in return for volume guarantees

Germany’s DVD Bank is also participating in the transaction in syndication.

Under the agreement, MSC has been given operating rights for 35 years in return for attracting guaranteed minimum traffic levels. Lease charges would be subject to penalty or bonus depending on whether or not the operator reaches annual targets. The terms also set out the operator’s responsibilities for superstructure investment which will complement the publicly funded infrastructure development.

Bids to operate the other Fos 2XL facility saw CMACGM/P&O Ports joint venture Port Synergy chosen in 2002.