Hanseatic Global Terminals (HGT), Hapag-Lloyd's terminals and infrastructure division, has entered into a term agreement outlining the key conditions for the intended acquisition of a 20 per cent stake in Eurogate Container Terminal Hamburg (CTH).
In addition, it is planned to increase the stake in the TC3 container terminal at the Moroccan port of Tangier from 10 per cent to 20 per cent.
HGT said the transaction remains subject to the negotiation and finalisation of binding agreements.
CTH is one of the Port of Hamburg’s major container handling facilities, with an annual capacity of 2.5 million TEUs. Planned investments in the western extension and automation of the terminal are expected to further increase its capacity and enhance the efficiency of cargo handling operations in the Port of Hamburg.
"Together with Hapag-Lloyd and Hanseatic Global Terminals, we aim to further develop CTH as an important logistics hub in Northern Europe," said Michael Blach, Chairman of the group management board of Eurogate.
In addition to this intended investment in CTH, HGT already holds a stake in Container Terminal Altenwerder in the Port of Hamburg.
