Rabat – Boluda Shipping has threatened to take Gran Canaria’s Cabildo to court if it continues what the company describes as attacks over a proposed Moroccan investment in Boluda Maritime Terminals (BMT).
Javier Climent Melián, director general of Boluda Shipping, made the warning in an interview with El Espejo Canario, calling the scrutiny surrounding the deal “alarmism” and rejecting claims that Morocco’s involvement would threaten Canary Islands ports. The comments come as Spanish authorities continue reviewing the transaction.
Climent said the planned entry of Morocco’s port operator Marsa Maroc should be treated as a commercial partnership, not a transfer of control over public ports.
Under an agreement announced in December 2025, Marsa Maroc International Logistics would pay €80 million for a 45% stake in BMT, while Boluda would retain the remaining 55%. Climent said the terminals business accounts for around 15% to 20% of Boluda’s overall activity and that the Moroccan partner would not direct operations in the Canary Islands.
Morocco approved the transaction by decree in September, but the deal still requires authorization from Spain. The Spanish Ministry of Economy has confirmed that the proposal remains under the foreign-investment screening process.
Read also: Marsa Maroc Acquires 45% Stake in Spanish Port Operator for €80 Million
The review is being handled by the Junta de Inversiones Exteriores, which includes representatives from government departments and national-security bodies, including Spain’s National Intelligence Center. The final decision rests with the Council of Ministers, and authorities have not established a concrete security threat arising from the transaction.
BMT operates terminals in five Canary Islands ports, Las Palmas, Santa Cruz de Tenerife, La Palma, Lanzarote, and Fuerteventura, as well as other locations in Spain. The Cabildos of Gran Canaria and Tenerife have opposed the deal, arguing that it could affect competition and shift maritime traffic or investment toward Moroccan ports.
Their objections intensified after a University of Las Palmas de Gran Canaria study examined changing logistics routes in West Africa and the development of Morocco’s Dakhla Atlantique port.
Climent rejected the suggestion that Dakhla would soon challenge Las Palmas, saying the Moroccan port would not be fully developed before 2030 and that any impact would be limited.
Boluda also cited its long-term role in the archipelago, saying it has invested more than €250 million in the Canary Islands over nearly four decades.
The company plans to invest about €25 million in the La Luz terminal in 2027 and between €50 million and €60 million in other projects across the islands over the next four years. Climent added that Boluda Lines maintains its registered headquarters in Las Palmas de Gran Canaria.
