Portugal has launched an international public tender for a €642 million ($712 million) container terminal project at the port of Sines, the largest port in the containerized cargo segment, InfraPPP reports.
The terminal will be capable of handling 3.5 million twenty-foot equivalent units (TEU) annually and include a 1,375-meter-long (4,511-foot-long) pier with three simultaneous berthing areas.
The concessionaire will be awarded €642 million ($712 million) from private funds, with €225 million ($249 million) invested in equipment and €417 million ($463 million) in infrastructure.
The project will have a concession period of 50 years. The concessionaire contract will be responsible for the design, construction and operation of the Vasco da Gama Terminal, which is slated to begin in 2021. The tender has a nine-month deadline, and the concessionaire will be announced in late 2020.