Rabat - The Tanger Med Port Authority (TMPA) has reported a turnover exceeding 3 billion dirhams ($290 million) by the end of September 2024, reflecting an 11% increase compared to the same period last year.
In the third quarter alone, the port recorded revenues of 968 million dirhams ($93 million), up 6% from the same period in 2023.
The strong performance is attributed to a surge in trade activity, with the port handling 103 million tons of goods through September, a year-on-year increase of 12.5%. Of this, 35 million tons were processed in the third quarter.
TMPA’s investment in infrastructure has been a key driver of its continued expansion. By September 2024, investments totaled 5.5 billion dirhams ($528 million), focusing on road networks, utility services, and IT infrastructure.
These upgrades aim to reinforce the port’s capacity and efficiency as it consolidates its position as Africa’s largest and most strategically significant port.
The authority has also worked to manage its financial stability. Its financing debts stand at 9.5 billion dirhams ($913 million), including 4.6 billion dirhams in bond loans, representing a slight decline of 0.4% compared to the end of 2023.
Tanger Med is not only a logistical hub but also a driver of regional economic development. It oversees over 3,000 hectares of economic zones that host more than 1,300 companies.
These businesses generate an annual turnover of 14 billion euros ($15.2 billion) across sectors including automotive, aerospace, textiles, agri-food, and logistics.
With a processing capacity of 9 million containers, 7 million passengers, and 1 million vehicles annually, Tanger Med is a critical node in global trade routes connecting Africa, Europe, and beyond.
In 2023, the port processed 8.6 million twenty-foot equivalent units (TEUs) of containers and handled nearly 10 million tons of hydrocarbons, further cementing its status as a leading Mediterranean port.