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The Portuguese government has approved the new Vasco de Gama Terminal and expansion of the existing Terminal XXI at the Port of Sines.
The aim is to increase capacity and to respond to the existing demand in containerised cargo at the port, in compliance with the Strategy for Increasing the Competitiveness of Continental Ports Network – Horizon 2026.
Concessionaire PSA Sines is investing €547m (US$609.04m) into Terminal XXI which includes the expansion of the quay and its handling equipment as well as the maintenance, replacement and renovation of equipment already installed.
The expansion will make it possible to allow the simultaneous berthing of four last generation containerships, increase the storage area from 42 ha to 60 ha and expand the facility’s capacity to 4.1m teu from 2.3m teu.
The new Vasco de Gama Terminal represents an estimated total private investment of around €642m (US$714.69m), to be made by the future concessionaire.
It will have an annual handling capacity of 3m teu, a 1.375 m long quay to allow three simultaneous berth positions for the largest ships in the world, 15 quay gantries and 46 ha of storage area.
The construction of the Vasco de Gama Terminal is estimated to have a total economic impact of €524m (US$583.5m), representing 0.28% of GDP and creating around 1,350 direct jobs in the exploration phase.
Through these projects, the Port of Sines should reach over 7m teu capacity which will allow it to compete and attract new cargo and customers from global logistics chains and help it to become one of the main ports in the West Med region.