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Kigdom of Morocco

Tangier Med II Port

Loan No.:

558

Interest Rate:

3.0%

Beneficiary:

Tangier Med II Company

Grace Period:

5 years

Project Cost:

KD 333.9 million

Maturity:

22 years

Amount of Loan:

KD 50.0 million

Repayment:

35 semi-annual installments

Date of Loan Agreement:

25/11/2010

First Installment:

5 years following the first disbursement

Date of Effectiveness:

--


Objectives:

The project aims at contributing to economic and social development in the Kingdom of Morocco, particularly the northern regions, through the construction of a second port. This port constitutes an extension of the existing Tangier Med I port, which started operating in 2007. The project also aims at meeting the increasing marine traffic demand, thereby making Tangier Med port the biggest container port in the Mediterranean region.

Description:

The project, which is expected to be completed by the end of 2014, includes the necessary infrastructure works for the new port, as well as all equipment and preparatory works to enable it to receive and service large vessels reaching a total capacity of 5 million TEU (Twenty foot Equivalent Unit). The project also includes all marine and civil works required for dredging the port basin and vessel entrance channel, construction of 2 breakwaters and 2 quays to accommodate and receive large vessels, in addition to the necessary consultancy services. The project comprises 2 phases: the first phase includes the infrastructure works for the port construction as well as the first quay 1200 m long, and the second phase includes the construction of the second quay 1600 m long and all its related works. The main components of the project can be summarized as follows:

  1. Infrastructure Works: This includes the following:
    1. Phase 1: This phase consists of building the portís main structure and construction of the first quay, which includes the following:
      1. a. Initial Works: This includes the preparation of studies and designs, as well as shop drawings. It also includes site mobilization and procurement of necessary equipment, as well as all preparatory works needed for the project.
      2. b. Dredging and Backfilling: This component includes the dredging of the port basin and the entrance channel to a depth of about 17 m. It also includes backfilling works used to reclaim more land .
      3. c. Breakwater: This component includes building of two breakwaters required to protect the port basin. The main breakwater will protect the port from the western side and has a total length of 2250 m, whereas the second one will protect the port entrance from the eastern side and has a total length of 1200 m.
      4. d. First Quay: This component consists of building a 1200 m quay, comprising 3 berths measuring 400 m each and receiving different kinds of vessels, in addition to backfilling and preparatory works needed for the vessel protection and berthing.
    2. Phase 2: This phase consists of building the second quay which includes the following:
      1. a. Dredging: This component includes dredging of the channel leading to the second quay .
      2. b. Breakwater: This component includes the construction of a 500 m breakwater, which represents an extension of the second breakwater of the first phase .
      3. c. Second Quay: This component consists of building a second quay 1600 m long, comprising 4 berths measuring 400 m each and receiving different kinds of vessels, in addition to backfilling and preparatory works needed for the vessel protection and berthing.
  2. Preparatory Works and Equipment: This includes completing the container warehousing areas and providing the necessary works and equipment needed for both quays, in accordance with the requirements of the 2 phases.
  3. Consultancy Services: This includes the consultancy services required for the project.

Financing:

The Arab Fund's loan covers about 15.0% of the total project cost. The beneficiary will cover the remaining cost of the project and any additional cost that may arise.


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