AICEP expects 7M investment in Sines
AICEP Global Parques plans to invest 6M on new parcels of land in Sines’ Industrial and Logistics Zone (ZIL).
The move by the Governments overseas investment agency is to accommodate big-ticket investments in the petrochemical sector expected from the main tenants occupying the industrial park.
“There is going to be a big cycle of development at ZIL which is 89% occupied and to accommodate some of these investments that we are expecting from the petrochemical sector we’ll have to prepare new parcels of land”, said the CEO of AICEP Global Parques, Filipe Costa.
The investment of over 2M in Zone 1 in the north of the park situation in the town of Setúbal involves a parcel of land of 15.7 hectares to accommodate investment worth tens of millions of euros in units for biodiesel, construction and some logistics.
“For 10 years new parcels have not been made available and this move is indicative of some industrial and economic recovery in the petrochemicals cluster industry”, says Costa the public entity that manages ZIL where some of the largest industrial companies in Portugal are located, including Petrogal and Repsol Polímeros.
In Zone 2 AICEP Global Parques will invest over 5M on a parcel of land covering 44.3 hectares “to meet the demands of petrochemicals projects underway and for the expansion plans of existing clients and possible new ones linked to the sector.
“These are projects from our main oil and gas clients at the park and at the Port of Sines worth thousands of millions of euros that were already in the pipeline before the financial crisis and which are now going ahead” says Costa.
To meet the demand from increased container transport capacity at the Port of Sines, with the expansion of Terminal XXI and the construction of the Vasco da Gama Terminal, Costa adds that AICEP Global Parque’s investment plan is in line with the expansion of activities at the current ZAL at Sines.
“We need to press ahead in 2020 with the first phase of the ZAL parcel of land which runs alongside the future Vasco da Gama terminal to keep pace with the investments which should up container capacity from 2.1 million TEUS now to 7 million TEUS on a 106.5-hectare parcel of land.