Hanjin Shipping"s Spanish subsidiary, Total Terminal International Algeciras [TTIA], will set up a logistics operation.
Hanjin Shipping"s Spanish subsidiary, Total Terminal International Algeciras [TTIA], will set up a logistics operation in the port"s immediate hinterland to encourage trade between shippers in South Korea and southern Spain.
TTIA will establish offices in a new intermodal logistics zone that is under construction close to the port and its surrounding industrial complex.
ZAL Bahía de Algeciras, the joint venture company that administers the El Fresno complex, signed an agreement last month with the Asian company to lease office space and provide preferential treatment to its future clients.
Last year TTIA won a tender to develop a new container terminal on reclaimed land that forms part of Algeciras" exterior port expansion.
The first phase of the ?167m terminal is scheduled to be operational by summer 2010 and will primarily handle transhipment traffic for Hanjin and its liner partners.
But a key factor of the South Korean company"s winning bid was its commitment to develop import and export traffic through Algeciras, Spain"s busiest port.
Alongside ongoing improvements to rail and road infrastructure, the agreement with ZAL Bahía de Algeciras will play a critical factor in that strategy.
Hanjin is the third company to unveil plans to set up operations in El Fresno, one of two logistics parks under construction near the port.
A publicly-owned holding company will invest ?11m to promote regional freight transportation through Algeciras, while two local car distributors will invest ?9m in a facility to ship Audi and Volkswagen vehicles through the port.
Apart from 41 ha facility at El Fresno, ZAL Bahía de Algeciras is developing a second 120 ha site near San Roque.