The Port Authority of Valencia (PAV) board of directors has approved the construction of the container quay of the Spanish port’s north extension. The project has a base budget of more than $570 million in public investment.
MSC’s port subsidiary, Terminal Investment Limited (TIL), will contribute more than $1 billion to the budget. Additionally, they will also be accountable for the development and operation of the new container terminal under an administrative concession.
The new container terminal project at the port of Valencia is an initiative that will involve a combination of public and private investments. They will all total more than $1.6 billion. Accordingly, they will provide Valencia with a sustainable and modern container terminal.
Power will come from 100% renewable sources and imply a 98% reduction in CO2 emissions. This will allow electricity to be supplied to ships in port and with a clear commitment to the railway.
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The new container terminal for Valencia port
The new box terminal will have a capacity of 5 million TEU. It will also have a surface area of around 1.37 square meters and a quay length of 1,970 meters.
TIL/ MSC’s project for Valencia Port includes automation, the use of advanced traffic prediction systems, building design with energy efficiency criteria, and an external lighting system with LED-type luminaires that will reduce energy consumption.
TIL also intends to build a railway terminal with six 1,000-metre-long tracks. Thus, it will be capable of transporting 305,000 TEU per year by rail.
About the port
Valencia’s port is the fifth busiest in Europe and the busiest in the Mediterranean. As of 2019, it moves approximately eighty-one million tonnes (eighty million long tonnes; eighty-nine million short tonnes) and 5.4 million TEU per year, ranking first in Spain and second in the Mediterranean basin in container shipping (after the Port of Piraeus), and second in Spain in annual cargo traffic (after the Port of Algeciras).
The port is also a major employer in the area, employing over 15,000 people who provide services to over 7,500 ships each year.