Portuguese government okays expansion of Port of Sines' Terminal XXI
THE Portuguese government has given the green light for the proposed new Vasco de Gama Terminal and expansion of the existing Terminal XXI at the port of Sines
THE Portuguese government has given the green light for the proposed new Vasco de Gama Terminal and expansion of the existing Terminal XXI at the port of Sines. Both of these projects will raise the port's annual container handling capacity to seven million TEU, enabling it to become one of the main gateways in the west Mediterranean region.
Concessionaire PSA Sines is investing EUR547 million (US$609.04 million) in Terminal XXI to expand the quay line and finance the purchase, maintenance, replacement and renovation of its cargo handling equipment, reported London's Container Management.
Once the expansion works are completed the terminal will be able to simultaneously berth four last generation containerships and it will have an annual container handling capacity of 4.1 million TEU, up from the current 2.3 million TEU. The project will also expand the storage area to 60 hectares, up from 42 hectares at present, reported Container Management.
The new Vasco de Gama Terminal is estimated to cost EUR642 million (US$714.69 million) in private investment, and the bill will be entirely footed by the future concessionaire.
This facility will have an annual handling capacity of three million TEU, a 1.375-metre-long quay to provide three positions for the largest ships in the world to berth simultaneously, 15 quay gantries and 46 hectares of storage area.
The construction of the Vasco de Gama Terminal is estimated to have a total economic impact of EUR524 million (US$583.5 million), representing 0.28 per cent of GDP, and create 1,350 direct jobs in the exploration phase.