The Maltese government has extended the terminal concession for the world's third largest container shipping company, CMA CGM, to enable the French group's subsidiary to operate Malta Freeport Terminals Ltd in the Port of Marsaxlokk for a further 30 years.
CMA CGM was originally awarded a 30-year concession to operate and develop Malta Freeport Terminals in October 2004. "Since then, the group continued to develop its presence in Malta by expanding operations, increasing its investment and creating numerous jobs. CMA CGM's evident commitment prompted the Maltese authorities to extend CMA CGM's concession to 65 years" in total, a statement from the shipping company said.
The new terminal concession agreement paves the way for an ambitious expansion and modernisation programme of the port's infrastructure and equipment. These developments come in response to increasing international traffic and will facilitate the berthing of the world's largest vessels, those exceeding 13,000 TEU.
The investment programme includes dredging works, expansion of the yard as well as installation of modern containing handling equipment, which together will boost the terminal's annual capacity to three million TEU and help create 500 jobs in the years to come, CMA CGM said.
The largest shipping operator in Malta with 14 weekly services, CMA CGM will continue to operate Malta Freeport as a common user facility and bolster its transhipment activities given that the port is strategically located at the crossroads of some of the globe's main shipping routes serving Asia, the Middle East, the Aegean, Adriatic and Black Seas along with Europe.
CMA CGM carried over seven million TEU in 2007, employing 16,000 people in 150 countries through its network of 600 agencies, the release added.
|
