South Korean container shipping company HMM has announced today that it has submitted to the Port Authority of Algeciras: a letter of intent for container expansion Terminal Total Terminal International Algeciras (TTI Algeciras), which is the second container terminal of the Spanish port of Algeciras and is 50% plus one share owned by the Asian company and 50% less one share from the group French shipowner CMA CGM ( of the 12th May 2017 and 10 August 2020).

The project involves an investment of 150 million euros, of which 35 million by HMM and the remaining share by CMA CGM and through loans, to raise the ability to Annual terminal traffic from 1.6 million to 2.1 million TEU by 2028. Currently, the terminal occupies an area of 300 thousand square meters that is expected to be expanded in a first phase to 460 thousand square meters by 2028. There is also a subsequent second phase of development that will bring the of traffic to 2.8 million TEUs per year. The petition asks the extension of the duration of the concession by postponing its expiry from 2043 to 2065.