THE Port of Valencia has announced that its new party automated north container terminal will have two kilometres of quay line and capacity to manage five million TEU, reports Port Strategy, of Fareham, Hampshire, England.
Investment in the project is expected to be around EUR1 billion (US$1.14 billion) to EUR1.2 billion (US$1.36 billion) and is to take six to seven years to build, with approval already granted by the board of directors of the Port Authority of Valencia (PAV).
In the plan for the project, the port authority said it will aim to "exploit the strengths of Valencia as an import/export and transit port with a capacity of five million TEU, complementing the existing terminals' capacity to accommodate the expected container traffic at the port of Valencia by 2050."
It aims to be able to service the largest ships of up to 24,000 TEU. The new project will also be linked to a new access tunnel underground below the sea.
The port has three terminals. Noatum with almost a 1.5-million square metres, MSC terminal Valencia has more than 300,000-square metres and the terminal APM has 500,000 square metres.