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Marsa Maroc Secures 45% Stake in Spain’s Leading Port Operator, Boosting Euro‑African Trade
Marsa Maroc and Spain’s Boluda Corporación Marítima have agreed to buy a 45 % equity and voting‑rights stake in Boluda Maritime Terminals for €80 million. The deal, approved by Marsa Maroc’s board, reinforces the kingdom’s strategic ties with the EU, especially Spain, which channels the bulk of Moroccan exports. The partnership will open new maritime corridors linking key Moroccan ports with Spanish gateways, expanding Marsa Maroc’s footprint beyond Africa and setting the stage for a double‑digit rise in container traffic. The acquisition is part of Marsa Maroc’s wider international expansion plan, leveraging its new subsidiary, Marsa Maroc International Logistics, to offer integrated logistics solutions, diversify trade routes, and cement its role as a pivotal player in Euro‑African supply chains.
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Deal Overview
Marsa Maroc and Spain’s Boluda Corporación Marítima have signed an agreement to acquire a 45% equity and voting‑rights stake in Boluda Maritime Terminals (BMT) for €80 million. The transaction was approved by Marsa Maroc’s board on 19 November 2025 and still requires regulatory clearance.
Strategic Importance
With the European Union accounting for roughly 65% of Morocco’s external trade, the partnership with Boluda carries significant strategic weight. Spain, the main gateway for Moroccan exports to the EU and the kingdom’s top trading partner in 2024, handles a large share of the bilateral cargo flow through its ports.
New Maritime Links
The joint venture will expand and diversify sea routes between Morocco and Spain, linking Moroccan terminals such as Nador West Med, Casablanca, Agadir, Laâyoune and Dakhla with Spanish hubs like Cádiz, Sagunto and the Canary Islands.
- Moroccan ports: Nador West Med, Casablanca, Agadir, Laâyoune, Dakhla
- Spanish ports: Cádiz, Sagunto, Canary Islands
Benefits for Moroccan Exporters
Through its stake in BMT, Marsa Maroc aims to offer more integrated logistics solutions, tighter connectivity to European markets, and stronger support for exporters, ultimately opening fresh opportunities for Morocco’s outbound trade.
Expanding Beyond Africa
After establishing a presence in Africa – notably in Benin – Marsa Maroc is now turning to Europe as part of its international growth plan. The acquisition brings the operator’s footprint to both sides of the Strait of Gibraltar, raising its network to 35 terminals across 20 ports and positioning it to double its container traffic volume.
Future Outlook
The deal marks the second collaboration between Marsa Maroc and Boluda, following a joint tug‑boat operation at Nador West Med. Both groups share a clear strategy to dominate the Morocco‑Spain corridor and to extend their reach into African markets.
Driving International Ambition
Marsa Maroc’s international arm, Marsa Maroc International Logistics (MMIL), will steer the expansion, building on a three‑year transformation that emphasizes diversification of activities and partners. The goal is to become a reference player in continental and regional logistics, delivering a durable and structured global presence.