The Board of Directors of the Port Authority of the Bay of Algeciras (APBA), meeting this Thursday in its first ordinary session of the year, has approved the modification of the concession for Total Terminal International Algeciras (TTIA), which includes the extension of the same by 15.9 hectares and the granting of the planned extension plus the extraordinary, of 5 and 22 years respectively, which extends the concession horizon until the year 2066.
The decision represents a significant step for the semi-automatic terminal located in Isla Verde Exterior, one of the most modern infrastructures of the Spanish port system. TTIA, which began operations in 2010, has handled more than 18 million TEUs since its launch and has established itself as a key player in the operations of the Port of Algeciras, the largest in Spain and one of the leading ports in the Mediterranean in container traffic. The terminal, predominantly participated by the South Korean shipping company HMM and the CMA CGM Group, has significantly contributed to the development of import and export traffic, to increasing connectivity of the Algeciras enclave, and to job creation in the Campo de Gibraltar.
The approved extension will allow TTIA to occupy part of Phase B of Isla Verde Exterior, land that will be added to the 30 hectares the terminal currently operates in Phase A. To materialize this growth, the company plans to undertake an investment exceeding 135 million euros, aimed at increasing its handling capacity by half a million TEUs until reaching 2.1 million TEUs by the horizon of 2028. The bulk of the expenditure will be concentrated on the superstructure, with the acquisition of 2 dock cranes and 12 automatic yard cranes that will operate in the 6 new blocks planned, which will be added to the 16 already existing. The plan also includes the incorporation of 6 shuttle carriers and the upgrading of the terminal's operating system. Additionally, TTIA will relocate its office building, the workers' parking area, and access control southward.
The approval of this extension comes at a time when the Port of Algeciras faces increasing competition in transshipment traffic in the Strait of Gibraltar, with the expansion of the Tanger Med port on the other side of the Strait. In this context, the increase in TTIA's capacity complements the operations of APM Terminals Algeciras, the other major container terminal in the port area, and allows the port to maintain its appeal for large shipping alliances and regular line services connecting Europe, Asia, Africa, and America.
This week, the terminal received one of the largest megaships in HMM's fleet, the HMM Stockholm, which demonstrates the infrastructure's intention to operate with the largest vessels in the market.
After the Council meeting, the president of the APBA, Gerardo Landaluce, stressed TTIA's contribution to creating economic activity and, particularly, its input into the development of import and export traffic and the increase of connectivity of the Port of Algeciras. Landaluce recalled that this international private investment of 135 million euros should be supported by the corresponding investments on the land side, with the acceleration of ongoing and pending projects both in the road network and in railway infrastructure.
On another note, the Council unanimously approved granting an honorary distinction to Carlos de las Rivas Hidalgo, who passed away in Algeciras last January. De las Rivas was the last secretary of the now-defunct Port Works Board and the first secretary of the APBA Council. After retiring in 1999, he was a founding partner, along with Pepe Corrales, of the Association of Retirees and Pensioners of the Port Authority, in addition to being a member of the Centenary Expert Committee (1906-2006) of the Port Works Board.
Lastly, the Council has given the green light to the distribution for this fiscal year of the sponsorship committee's aids, aimed at financially supporting a hundred activities and projects developed by non-profit associations and foundations in the Campo de Gibraltar area. Of the total beneficiary projects, 65% correspond to charitable and social initiatives, 25% to cultural projects, and the remaining 10% to sports activities.