August 10, 2019
PSA International has agreed with the Portuguese government to invest €547 million ($616.13 million) in its terminal, Sines Terminal XXI, reports Port of Sines and Algarve Authority (APS). PSA is a leading global port group with a portfolio comprises a network of over 50 coastal, rail and inland terminals in 18 countries.
Investments include the extension of the main quay, currently 946 linear metres, to 1,750 metres and a storage area extension from 42 to 60 hectares. Another nine super post-Panamax cranes will be installed and 30 yard vehicles will be acquired.
It is forecast that the changes will increase annual traffic capacity of the Sines terminal will increase from 2.3 million to 4.1 million TEUs.
The terminal has direct links to national road and rail networks, which are integrated into the Atlantic corridor of the Trans-European Transport Network (TEN-T). In order to respond to the growth projections, a plan for the expansion of road-rail accessibility is being implemented, within the framework of the Infrastructure Investment Plan – Ferrovia 2020 , which will ensure correct intermodality for the connections and in the interior of Spain, particularly in the region of Madrid.
Terminal XXI is currently the largest employer in the region, with more than 1,000 jobs, and this agreement will strengthen job creation, contributing to the socio-economic development of the region and the country.
This agreement places the Port of Sines as one of the world’s leading ports and particularly the West Med in terms of port offer in the containerized cargo segment, ensuring capacity to compete and attract new cargoes and customers from global logistics chains, reinforcing the position of Sines in the international maritime-port context.
Sources: PortSEurope and AICEP