New terminal at Sines to cost €642 million

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The cost of constructing a new shipping container terminal at Portugal’s Port of Sines is expected to be around €642 million.

The public international tender competition for the adjudication of the works on the new Vasco da Gama Terminal was launched on Tuesday. The project should be concluded by 2024.
The Government’s aim with the expansion works at Sines is to create a European shipping hub placing Sines on the same level as the other main European maritime hubs such as Rotterdam and Antwerp.
The project brief for the infrastructure encompasses the construction and business exploration of new Port of Sines terminal with a deadline of nine months to present the proposals with the adjudication of the winning plans expected to be made in the 4th quarter of 2020 so that works can start in. The first quarter of 2021. The project should take a total of three years to complete.
According to the news agency Lusa, the construction of the new Sines terminal will permit the shipment of 3.5 million TEUs (the average measurement used to calculate container volume).
Of the total value of the €642 million investment, an estimated €225 million will go on equipment and the remaining €417 million on infrastructure.
The Government estimates that the new Sines Terminal will have an economic impact in the region of €524 million per annum, representing 0.28% of GDP and 0.33% of Gross Value Added (GVA) while in terms of employment, the Government believes that 1,350 direct jobs will be created.