At an official ceremony held in Malta, the Maltese government granted CMA CGM, the world’s third largest container shipping company, an extension of its terminal concession held through its subsidiary Malta Freeport Terminals, Ltd. in the Port of Marsaxlokk.
CMA CGM was 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.
The agreement to extend the concession was signed today in Malta, by the Hon. Austin Gatt, Malta’s Minister for Investments, Industry and IT, and CMA CGM President J.R. Saad’, in a ceremony attended by the Prime Minister of Malta, Dr Lawrence Gonzi. This agreement marks the beginning of an ambitious expansion and modernization program targeting the Port’s infrastructure and equipment. These developments come in response to increasing international traffic, and will enable the berthing of vessels exceeding 13,000 teu.
This sizeable investment program includes important dredging works, expansion of the yard as well as installation of the most modern equipment. It will boost the Terminal’s capacity to three million teus and help create 500 jobs in the years to come.
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 transshipment activities given that the Port is strategically located at the crossroads of some of the world’s greatest shipping routes serving Asia, the Middle East, the Aegean, Adriatic and Black Seas along with the European Continent.