Rising star Tanger Med box port wins US$10 million cold warehouse deal
ONE of the fastest growing ports in recent world rankings, Morocco's Tanger Med is attracting investment of US$10 million in state-of-the-are cold storage called Atlas Cold Port.
The project is backed by investors from Spain (Frio Puerto), Morocco (Yacout Investissement) and the US (Lixia Capsia), reports Lloyd's Loading List, and is designed to boost exports of Moroccan fruit, vegetables and seafood.
The new facility is expected to increase access to US markets as it will allow regulatory controls to be carried out in Morocco.
First-phase construction involves building a 6,600-square metres unit offering annual capacity of 40,000 tonnes of perishable foodstuffs.