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October 20, 2011

Portugal to invest in port infrastructure

The Portuguese Government is planning to invest $3.43bn in infrastructure development across its five major ports.

The Portuguese Government is planning to invest $3.43bn in infrastructure development across its five major ports.

The majority of the investment will used in three new container terminals at the ports of Lisbon, Leixoes and Sines in Portugal.

Out of the total investment, $685m of funds will go towards building at terminal at Lisbon port, which will handle up to 2Mteu of cargo a year.

The project is scheduled to be completed within five years.

The port of Sines will require an investment of $1.28bn, $966m of which is planned to be sourced from private players.

Port of Sines will launch a tender to find a private operator, under a 30-year concession contract, for a 4.5Mteu-a-year container terminal.

The Leixoes port will require $219m for building a new terminal under a project to be co-financed by the European Investment Bank and the Trans-European Transport Network, according to Diario Economico.

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