Home / Shipping News / Port News / Portugal promises “necessary boost” to investment in deepwater port of Sines

Portugal promises “necessary boost” to investment in deepwater port of Sines

Portuguese Infrastructure and Housing Minister Pedro Nuno Santos said that the government wanted to give “the necessary impetus” to make the planned investments for the deepwater port of Sines in the current legislature, according to Portuguese Lusa News Agency.

“There is work that has started in the previous legislature and will be continued. We want, together with the municipality and the administration of the Sines port, to give the necessary impetus so that we can quickly have the investments in progress,” the minister said during a visit to Sines.

Nuno Santos reiterated that there are “good prospects for the expansion of this port that is critical for the country’s development”.

Some of the largest investments in the port sector are expected for the port of Sines in the coming years, namely the new Vasco da Gama terminal, an investment of 650 million euros (718 million U.S. dollars), and the expansion of Terminal XXI, an investment by PSA Sines, worth 660 million euros.

“We are talking about one of the largest investments of our country and of unusual size in Portugal which also represents an opportunity for Portugal to be a very important platform in the global freight transport framework,” Nuno Santos said.

He said there are currently “investors and global players” who are looking closely at the business opportunity of the new terminal, for which an international public tender was announced earlier this month.

The minister promised that the railroads and freight transports connecting the port of Sines will be reinforced to increase the access.
Source: Xinhua

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping