SINCE the start of the terminal in 2000, psa Sines has invested over US$207 million in developing the facility, reports Colchester's Seatrade Maritime News.
PSA Sines has embarked on an expansion project for $309 million, called Phase III.
The expansion plan will be completed by 2028, doubling the terminal's annual handling capacity to 4.1 million TEU.
The inauguration of the additional 204 metres of quay length marks the completion of the first stage of Phase III.
'Portugal and Singapore have both stood at the crossroads of busy sea lanes connecting the Asia and Europe. PSA Sines is situated in a strategic location and is positioned to be an important transshipment hub in Europe,' said Singapore Foreign Minister Vivian Balakrishnan.
'This expansion demonstrates our strong partnership as two like-minded states, united in maintaining free trade, economic integration, freedom of navigation, and compliance with international law.'
Said PSA CEO David Yang: 'PSA has always believed that the Port of Sines, with a deep-water port strategically located at the intersection of the north-south, east-west routes, offers a unique opportunity for the successful development of a best-in-class container terminal.
'Today, PSA Sines has already exceeded our highest expectations and has become a major regional hub capable of serving the most important shipping routes and receiving the largest container ships,' he said.
SeaNews Turkey
PSA Sines has embarked on an expansion project for $309 million, called Phase III.
The expansion plan will be completed by 2028, doubling the terminal's annual handling capacity to 4.1 million TEU.
The inauguration of the additional 204 metres of quay length marks the completion of the first stage of Phase III.
'Portugal and Singapore have both stood at the crossroads of busy sea lanes connecting the Asia and Europe. PSA Sines is situated in a strategic location and is positioned to be an important transshipment hub in Europe,' said Singapore Foreign Minister Vivian Balakrishnan.
'This expansion demonstrates our strong partnership as two like-minded states, united in maintaining free trade, economic integration, freedom of navigation, and compliance with international law.'
Said PSA CEO David Yang: 'PSA has always believed that the Port of Sines, with a deep-water port strategically located at the intersection of the north-south, east-west routes, offers a unique opportunity for the successful development of a best-in-class container terminal.
'Today, PSA Sines has already exceeded our highest expectations and has become a major regional hub capable of serving the most important shipping routes and receiving the largest container ships,' he said.
SeaNews Turkey
