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Home Business Vasco da Gama Terminal Project not interested due to pandemic - Companies

Vasco da Gama Terminal Project not interested due to pandemic – Companies

The Administration of the Ports of Sines and of the Algarve says that the pandemic has inhibited the Vasco da Gama Terminal project, whose deadline for submission of proposals ended this Tuesday, April 6.

The administration justifies the failure with the “adverse context” of the pandemic, in this project that involves “the commitment of a considerable volume of totally private investment”. When the international public tender for a new container terminal was launched in 2019, it required an investment of 642 million euros.

The same entity stresses that the pandemic context had repercussions on the global economy, “and on shipping in particular”, fostering an atmosphere of uncertainty, mainly in terms of the activity of the main container terminal operators and operators worldwide.

“The Port Authority proposes to adapt the tender procedure to the current context, making some aspects more flexible that fit it in the international shipping panorama, and looking to the future with the conviction that this is a project to be implemented as soon as the market trends are up. appear to us to be more favorable, “reads the statement.

The Ministry of the Sea previously predicted that the award would take place in the last quarter of 2020 and that the work would start in 2021, with an approximate duration of three years. The concession term was 50 years.

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