VALENCIA, both the Mediterranean's and Spain's biggest container port, is moving forward with a US$1.5 billion expansion project, reports Fort Lauderdale's Maritime Executive.
Terminal Investment Limited (TIL), the Mediterranean Shipping Co (MSC) port operator, will partner with the port for the construction of a fourth container terminal with the capacity to hold five million TEU. It will support the port's role as a regional transshipment hub.
The port already holds a strategic position as the first and last port of call for regular shipping lines operating in the western Mediterranean.
Serviced by over 100 shipping lines, Valenciaport is the maritime gateway for production and consumer goods to and from the entire Iberian Peninsula. In the first 10 months of the year, more than 4.3 million TEU passed through Valenciaport's terminals, however, traffic was down by 7.7 per cent. Port officials cited economic and geopolitical uncertainty.
The new terminal, which will be operated by TIL, will be located in the northern extension of the Port of Valencia which was completed in 2012. The new terminal will have a surface area of more than 330 acres and nearly 6,500 feet of berths.
Among the elements will be a railway station with six tracks each over 3,200 feet and a capacity to move 305,000 TEU per year.
TIL has agreed to invest $1 billion to build the terminal and then they will operate it. In addition, the port will invest nearly $600 million for infrastructure improvements. The port has already begun to prepare the tender document for these projects.
The port did not specify a date for the opening of the new terminal.
SeaNews Turkey
Terminal Investment Limited (TIL), the Mediterranean Shipping Co (MSC) port operator, will partner with the port for the construction of a fourth container terminal with the capacity to hold five million TEU. It will support the port's role as a regional transshipment hub.
The port already holds a strategic position as the first and last port of call for regular shipping lines operating in the western Mediterranean.
Serviced by over 100 shipping lines, Valenciaport is the maritime gateway for production and consumer goods to and from the entire Iberian Peninsula. In the first 10 months of the year, more than 4.3 million TEU passed through Valenciaport's terminals, however, traffic was down by 7.7 per cent. Port officials cited economic and geopolitical uncertainty.
The new terminal, which will be operated by TIL, will be located in the northern extension of the Port of Valencia which was completed in 2012. The new terminal will have a surface area of more than 330 acres and nearly 6,500 feet of berths.
Among the elements will be a railway station with six tracks each over 3,200 feet and a capacity to move 305,000 TEU per year.
TIL has agreed to invest $1 billion to build the terminal and then they will operate it. In addition, the port will invest nearly $600 million for infrastructure improvements. The port has already begun to prepare the tender document for these projects.
The port did not specify a date for the opening of the new terminal.
SeaNews Turkey