Nador West Med has signed 2.1 billion dirhams  ( US$225 million ) in long-term financing with three Moroccan banks, through its subsidiary West Med Container Terminal ( WMCT ).

Nador West Med is being built on Morocco’s Mediterranean coast, where it is set to become the country’s third deepwater port, after Tanger Med and Jorf Lasfar.

The banking consortium comprises Attijariwafa Bank as the lead mandated arranger, alongside Banque Centrale Populaire and Bank of Africa as arrangers.

The 15-year project finance loan will fund part of the first phase of the container terminal, which carries a total investment of around 2.8 billion dirhams. The terminal’s first section is expected to enter service in the fourth quarter of 2026.

By securing the funding, WMCT says it has obtained the resources needed to complete the terminal’s first phase while demonstrating the confidence of Morocco’s leading financial institutions in the project’s potential. Once operational, the facility is expected to expand the port’s handling capacity and boost regional and international trade.

The WMCT shareholding structure is 50% minus one share held by Terminal Investment Limited ( TIL ) and 50% plus one share held by Marsa Maroc.

TIL is one of the world’s leading container terminal operators, with a portfolio of terminals along major global trade routes served by its parent company, Geneva-headquartered Mediterranean Shipping Company ( MSC ), the world’s largest shipping line.

Marsa Maroc is an African port operator, managing 34 terminals across 20 ports and handling annual traffic exceeding 60 million tonnes. It is listed on the Bourse de Casablanca.