Porto de Sines - Portugal's Biggest Foreign Investment
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- เผยแพร่เมื่อ 8 เม.ย. 2022
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The president of the Porto de Sines, José Luís Cacho said last week that the Vasco da Gama Terminal will go ahead with less investment than has initially been anticipated.
A date has yet to be set for the launch of a competition for the concession rights to build and manage the new shipping terminal, but the initial investment that is being proposed from private entities will be less than initially expected.
In an interview with the newspaper Negócios and RTP’s Antena 1 radio, the Board President of the Ports of Sines and Algarve said that the decision to launch the tendering competition would be taken by the Government. But José Luís Cacho said that construction work on the new shipping terminal would move ahead sooner or later.
The first competition for a 50-year concession requiring an investment of €642 million was in April but had no takers.
José Luís Cacho believes that to ensure the economic viability of the project under current market conditions the project needs to be customised to handle less cargo.
The eventual goal to handle 3.5 million containers will remain, but this capacity will be achieved gradually, as will the initial investment which will be less than originally foreseen.
In other words, current economic conditions and the lack of takers at the original asking investment had been downscaled to reflect the new reality.
“The project had been based on the supposition that international shipping had been growing at 8.5% in this region which gave us an opportunity to sound out the market.
“Unfortunately, with the pandemic things changed,” he said, adding that even so, the ports company will make an investment to double current capacity to 4.5 million TEUs (a unit equivalent to one standard container).
According to the president of the Porto de Sines, the Minister for Housing and Infrastructures, Pedro Nunes Santos will announce the timeframe set for a fresh competition.
The expansion phase includes the construction of another 204 metres of quay to provide the terminal with a total of 1,150 metres long by the end of 2021, which represents an investment of $19.5m. This is the first expansion phase after the renegotiation process of the Terminal XXI concession, which, in its final configuration, will present a 1,750-metre long quay that will be built gradually.
Sines’ Terminal XXI located on the main international maritime routes where the largest container ships in the world are in operation, and this investment reinforces the terminal's capacity to receive several mega-carriers simultaneously and, therefore, increase its operational offer.
In October 2019, the Authority of the Ports of Sines and Algarve (APS) and PSA Sines signed an amendment to the concession contract that allows for new investments in relation to the expansion of the pier and the resizing and modernisation of the terminal, projecting an increase in the annual handling capacity from 2.3m to 4.1m teu.
In February of this year, APS awarded the Contract for the 3rd Phase of the Expansion of the East Breakwater of the Port of Sines, for an approximate amount of $85m, including the extension of the pier by 750 metres, which will reinforce the protection of the east of the Port of Sines, where Terminal XXI is located.
This work is part of a project approved by the Operational Programme for Competitiveness and Internationalisation (COMPETE 2020) and will benefit from Community funding, through the Cohesion Fund, of approximately $29.5m.
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its so good, as a portuguese its good to know that our country is growing and that more money is coming in. Hope you make more videos about portugal and the EU
Definetly! I hope more of these projects keep comming
there are many projects that are not being talked about enough in the Portuguese media, we should be tackling these investments and opportunities head-on
In Summary, the only way forward is to abandon the US and work with China, Russia and Brazil, otherwise Portugal will be handling plastic recycles and a couple salmon warehouses. lol
Portugal and Sines have also landed the implementation of the “Medusa Cable” that is connecting all the Mediterranean countries.
Medusa: The 8700km, 24-fibre pair, 480Tbps (20Tbs per fibre pair) system, 326 million, will connect Lisbon and Sines, Portugal to Port Said, Egypt with additional landings in Barcelona, Torreguadiaro, Zahara and Alacant in Spain; Tétouan and Nador in Morocco; Algiers, Bizerte in Tunisia, Algiers and Collo in Algeria; Marseille in France; Mazara del Vallo in Italy; Yeroskipou in Cyprus; and Tympaki in Greece.
Nice video! Thanks for the effort! It's good to see someome showing this kind of important projects in our country, keep up the good work!
Thanks! That's exactly what i'm trying to do
This is a reupload due to an audio issue, sorry if you have seen it already :)
this is my 6th rewatch are you kidding? great vid :D
ahhahaha
Railroads must connect Sines to mainland Europe.. Thats has always been the problem...
Agreed
In Summary, the only way forward is to abandon the US and work with China, Russia and Brazil, otherwise Portugal will be handling plastic recycles and a couple salmon warehouses. lol
For those wondering how Sines compares to the other major European ports: Sines is the 18th biggest European port by tonnage handled, according to data for the year 2021. The biggest port, Rotterdam, handles more than 10x the tonnage handled in Sines. Countries in the Top 20 European Ports, ordered by cargo volume handled in its biggest port: Netherlands, Belgium, Germany, Spain, France, Norway, Italy, Romania, Greece, Poland, Portugal, Lithuania.
Thank you for your videos Portugal has a lot to offer
No worries bro, I totally agree with you!
Would love to see an update on this topic
Make Portugal great again ahahhaha
"it's gonna be HUGE"
If I'm not mistaken Iberdrola and Calb are making massive investments in Sines
Good news
Interessante
Obrigado!
As vezes eu fico me perguntando se portugal vai ser melhor do que e hoje, eu espero que eles sejam pelo menos melhores do que a austria
Great vídeo, but i have a question about the NG pipeline from the USA, where is the source ?
In Summary, the only way forward is to abandon the US and work with China, Russia and Brazil, otherwise Portugal will be handling plastic recycles and a couple salmon warehouses. lol
Mark my words: humans will turn into data one day!
I knew Sines received a lot of attention, but I'm still impressed by the ammount of projects there. My only problem is with the green hydrogen projects, their intent is to export to northen europe by ship, wich is not economicly feasable
About the high speed trains... They rarely ever transport goods, so I don't know if it'll help much
Even if they are not high speed trains for cargo, they should still use them as its the most feasible option
@@Culturiosity I don't think I agree, the Sines port has been amazing for transporting goods, not people. As it has many industrial areas and is a center of export and import, it would make sense to first focus on infrastrocture to increase the transport of goods, and then study the feasability of the same for people
@@joaquimbarbosa896I think Culturiosity means that even if the freight trains are not high speed, they are still worth it. And indeed, what makes freight economical is that it’s not in a hurry to get to its destination, so it can run more efficiently, at lower speeds than passenger trains.
Costa has done a great job of leading the country 👏
🤐
😂