Port of Valencia activates an investment of 1,564 million euros for its new container terminal
The new container terminal will be in the inland waters of the breakwater of the northern extension of the Port of Valencia, work on which was completed in 2012
The Board of Directors of the Port Authority of Valencia (PAV) has this morning approved the Construction Project for the Container Quay of the North Extension of the Port of Valencia, with a base budget of 542,694,149.17 euros of public investment.
To this will be added the 1,021 million euros to be provided by Terminal Investment Limited (TIL), a company belonging to the MSC group, a European company that will be responsible for the construction and operation, under an administrative concession, of the new container terminal.
It is an initiative that will involve a public-private investment of 1,564 million euros to provide the Valencian precinct with the most sustainable and modern container terminal in the world, a model for the environment, where the electricity will come from 100% renewable sources, which will allow the supply of electricity to ships in port and will have a clear commitment to the railway. The new terminal will reinforce Valenciaport’s position in the Mediterranean and its work as a tractor company at the service of Spanish economic activity.
The project will be submitted to the Council of Ministers, since it is an initiative that involves a public investment of more than 12 million Euro.
At the same time, the PAV has already begun to prepare the tender document for these works, which will have a base budget of 542,694,149.17 million euros. Also as of today, Valenciaport technicians are already working to comply with each and every one of the 21 observations and conditions made by the Directorate General for Coasts in its favourable report on Compatibility with the Marine Strategy on the construction project approved today.
The new terminal will be located in the inland waters of the breakwater of the northern extension of the Port of Valencia, whose works were completed in 2012 with an investment of 204 million euros, of which 74 million were subsidised with European Cohesion Funds.
In environmental terms, the new container terminal will be a smoke-free space, as it will minimise CO2 emissions by supplying electricity to cranes and yard machinery, and to container ships that will connect their engines to the electricity grid during their stay in Valencia. The project presented by TIL/MSC to Valenciaport includes the electrification of 98% of the driving components and installations of the terminal; and in addition, 100% of the electricity will come from renewable sources, which in turn will imply a 98% reduction in CO2 emissions.
In this line, automation, the use of advanced traffic prediction systems, the design of the buildings with energy efficiency criteria, and the external lighting system with LED-type luminaires will minimise energy consumption. In its project, TIL makes an important commitment to intermodality and offers to develop a railway terminal equipped with six 1,000-metre-long tracks, with the capacity to move 305,000 TEUs/year by rail.
The new container terminal will involve an investment of 1,500 million euros, both public (448 million euros excluding VAT) and private (1,021 million euros). All this will generate a significant economic impact both during the construction phase and when it comes into operation.
According to the study on the impact of the new Container Terminal of the Northern Expansion of the Port of Valencia carried out by the Institute of Transport and Territory (ITRAT), with the new terminal fully operational, the economic impact of the port of Valencia will represent in terms of added value 2.27% of the whole of the Valencian Community and employment will exceed 44,000 jobs, with an average salary of around 32,000 euros per year. Overall, the port of Valencia will represent 2.2% of all employment in the Valencian Community.
Thus, the total employment generated by Valenciaport when the terminal is active will increase from 38,866 (according to the report drawn up by the Universitat Politècnica de València with data from 2016) to more than 44,000 jobs and will create more than 5,000 new jobs in the area surrounding the Port of Valencia, including direct, indirect and induced jobs. Quality employment that will be supported by Valencian entities for research and training, with an effective equality strategy that will favour the reconciliation of personal, work and family life and will improve the health and safety standards of port operations.
