Dubai, 22 June 2005 (WAM)-- Jafza International, the world's leading free zone operator, has been awarded a 10 year concession to manage the logistics free zone at Tangier Med, the port complex under development in Morocco.
The agreement between Tangier Med Special Agency (TMSA) and Jafza International supersedes the co-operation agreement awarded to Jafza International last October for technical advice, a press release from the company said.
Situated in the port complex of Tangier Med, and extending to a surface area of 130 hectares, the logistics free zone is one of three free zones associated with the Tangier Mediterranean project.
Jafza International plans to apply the same management systems to Tangier that have made the Jebel Ali Free Zone in Dubai the most successful and fastest growing free zone operation in the world. Jafza International plans to incorporate state-of-the-art telecommunications, offering a full range of facilities such as serviced plots of land, pre-built warehouses and offices, as well as serviced plots of land.
Also, the availability and low cost of labor location at the distance of 14 km from Europe makes it a strategic choice for European companies. Furthermore, the owners will also undertake to finance fully the construction of bespoke warehousing to suit customer needs. These facilities will then be rented by customers by Jafza International.
Now that Jafza International has been awarded the contract, the company is in the process of assembling a management team. Jafza International has conducted a four month feasibility study into Tangier's suitability for a logistics free zone the results of which have encouraged both Jafza and TMSA to proceed with the project. Both the port and free zone at Tangier Med are due to open for business in September 2007.
"On behalf of JAFZA International, I am delighted to announce this important agreement.
This contract with Tangier Med Special Agency reinforces our partnership with Tangier, and will offer enhanced service levels to our customers. We are honored to have been selected by the Tangier Med Special Agency to develop this key trade centre," said Mohammed Sharaf, Managing Director of Jafza International."We are excited to be reinforcing our partnership with Jafza International and our links with Dubai. We believe our facility has the potential to become a leading logistics hub for the region. We look forward to working with Jafza International to make Tangier fulfill this potential", said Saeed Alhadi, President of the Directorate of TMSA.
