The Portuguese government has issued a tender for the development of the Vasco da Gama container terminal at the Port of Sines, seeking a concessionaire who would invest in the project.
The successful contender is expected to invest an estimated EUR 642 million (USD 708 million) in the terminal that will have an annual handling capacity of 3.5 million TEU.
The government further noted that the facility would be capable of hosting 24,000 TEU boxship giants thanks to a 1,375 meter quay with three simultaneous docking positions.
According to the government, the concession contract is expected to be awarded in the last quarter of 2020, with work on the project starting in 2021.
It was noted that the Vasco da Gama terminal would be built and financed exclusively by private funds through the concessionaire. The concession space will remain in the public domain under port jurisdiction.
Related: Up to USD 613 Mn to Be Injected in Portugal’s Port of Sines