Total Terminal International Algeciras has carried out a capital increase of 70 million euros to finance the first phase of its extension project, which will begin operations in 2028.
Total Terminal International Algeciras (TTI Algeciras) executed a capital increase of 70 million euros at the end of June, as stated in the Official Bulletin of the Mercantile Registry. With this operation, the company raises its subscribed capital to 133.35 million euros, nearly doubling the available equity to face the planned investment.
This injection represents the second contribution from shareholders so far in 2026, following the seven million disbursed in January. The aim is to cover nearly half of the estimated budget for the first phase of the expansion at the Isla Verde Exterior dock, which is around 135 million euros.
A key expansion for the port's capacity
The project, which received final approval from the Port Authority of the Bay of Algeciras (APBA) last February, will allow TTI to occupy an additional 15.9 hectares in phase B of the dock, adding to the 30 hectares it already operates. The concession has been extended until 2066, ensuring long-term operations.
With this extension, the terminal will increase its handling capacity by half a million containers (TEUs), reaching 2.1 million TEUs. The investment in superstructure includes the acquisition of two quay cranes and twelve automatic yard cranes, as well as six shuttle carriers and the upgrade of the operating system.
TTI Algeciras expects the new facilities to be operational in 2028, presumably during the first half of the year. Construction has not yet begun, pending municipal licenses and APBA approval.
Shareholding and project context
The terminal, inaugurated in 2010, is owned by the South Korean shipping company Hyundai Merchant Marine (HMM), which holds half of the shares plus one, and the French CMA CGM, which owns the other half minus one. CMA CGM's participation is structured through Isla Verde Algeciras Terminal Holding SL, whose capital is shared with the Stonepeak fund, which acquired a 25% stake earlier this year.
The expansion also includes the relocation of the office building, the workers' parking, and access controls to the south, as part of the return of the concession to the APBA for the expansion of the intermodal terminal.
For logistics operators and shipping companies using the Port of Algeciras, this expansion represents relief in container handling capacity at a time of growing maritime traffic. The commissioning in 2028 will nearly double the current capacity, which could translate into greater competitiveness for the Andalusian dock compared to other Mediterranean ports.
Timelines will depend on the speed of obtaining licenses, but the company is confident that construction can begin in the coming months. Meanwhile, the 70 million is already in the bank to ensure the project's execution.
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