Clifford Chance is advising on the €133m financing of the construction of the third container terminal (TC3) at the Port of Tanger Med 2 in Morocco.
The London-headquartered law firm is advising the Tanger Alliance concessionaire, which involves Marsa Maroc, Contship Italia, Eurogate International and Hapag Lloyd, on its long-term credit agreement of EUR133mi to finance part of the costs of the construction of TC3.
The total investment for financing the construction of the project amounts to approximately EUR175m.
The signing of the credit agreement forms part of the implementation of the financing plan of the TC3 project, involving a consortium of Moroccan banks composed of the Banque Centrale Populaire group (as mandated arranger), Attijariwafa bank group (as co-arranger), Bank Of Africa group and CIH Bank.
