New ferry services between Morocco and continental Europe through new Moroccan company, Africa Morocco Links

New ferry services between Morocco and continental Europe through new Moroccan company, Africa Morocco Links

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BMCE Bank Of Africa Group, a leading Moroccan and pan-African banking group, and Attica Holdings S.A. (“Attica Group”), a subsidiary of Marfin Investment Group, the largest investment group in Southeast Europe, are pleased to announce an agreement to operate scheduled ferry services from Morocco to Europe, through the newly-established Moroccan company Africa Morocco Links “AML”).

BMCE Bank Of Africa Group, with the support of the Moroccan Government represented by its Ministry of Equipment, Transportation & Logistics and following a selection process involving many potential ferry operator candidates, entrusted Attica Group to act as its Strategic Partner to contribute to AML its longstanding experience, know-how and operational excellence, for which Attica Group is internationally renowned.

Attica Group will hold a 49% participation in the new company, while 51% will be held by a group of Moroccan shareholders led by BMCE Bank Of Africa Group.

Mr. Spiros Paschalis, CEO of Attica Group, stated upon the signing of the agreement: “We are delighted to collaborate with BMCE Bank Of Africa Group, one of the leading banking groups across Africa, in the newly-established operator AML, which we are confident will become very soon the leading ferry player linking Morocco and Africa to Europe. Attica Group is honored by the trust vested in our Group by BMCE Bank Of Africa. On our side, we have no doubt that our extensive experience in the ferry industry, combined with the top-quality service that we offer to our customers, will lead to the upgrade of existing services in the market and to the development of Moroccan maritime personnel able to perform at the highest possible standards, achieving the operational excellence both BMCE Bank Of Africa and Attica Group seek to provide. Finally, we are confident that today’s agreement will mark a new promising start and strengthen the ties between our two countries, Morocco and Greece”.

The annual traffic volumes between Morocco and Europe are estimated at around 4 million passengers, 1 million private vehicles and 260,000 freight units, with great potential for further growth.

The implementation of the agreement is immediate, with the inauguration on June 17th, 2016 of the Tanger Med (Morocco) – Algeciras (Spain) route with the vessel DIAGORAS, followed a few days later by a second vessel. Additionally, a number of preparatory initiatives are currently underway for the launch of additional routes between Morocco and Europe.

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