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Cosco Shipping Ports Spain To Invest €62 Million In Valencia Port

Cosco Shipping Ports Spain to invest €62 million in Valencia port

Source: Valenciaport
Valencia, Spain (PortSEurope) June 2, 2020 – Cosco Shipping Ports Spain (CSP Spain) has announced that it will invest over €62 million ($69.30 million) in Valenciaport until 2022 to increase the capacity of CSP Iberian Valencia Terminal by 30% to 5 million TEU. Volume in 2020 is forecast to be 2.5 million, leaving the same extra volume to meet demand for the next 15 years.
Investment in equipment will include two new dock cranes, adding to the current 20, enabling extra handling of the largest ships on the market, the Megamax, with more than 20,000 TEU. The terminal will have a special 500-meter berth to serve the largest container ships. In addition, 14 new RTGs will be incorporated, which will improve the reception and delivery capacity for import and export cargo from the terminal. CSP Iberian Valencia Terminal will also implement a new terminal operating system (Terminal Operating System), the latest version of NAVIS_N4. Investments in machinery have been completed with the improvement of the CSP Iberian Valencia Terminal railway terminal to accommodate 750-metre-long trains. Cosco Shipping Ports also intends to expand the railway terminal it manages in Zaragoza to 300,000 TEU, to develop the new Silk Road strategy to connect Spanish ports with each other and with China. In April 2019, following its acquisition by COSCO Shipping Ports Limited in June 2017, Noatum Ports SLU was rebranded Cosco Shipping Ports (Spain) Terminals S.L.U. (CSP Spain). The maritime terminals of the group located in Valencia (Noatum Container Terminal Valencia) and Bilbao (Noatum Container Terminal Bilbao) were renamed CSP Iberian Valencia Terminal and CSP Iberian Bilbao Terminal, respectively. Its intermodal subsidiaries were renamed from Noatum Rail Terminal Zaragoza and Noatum Rail Services to CSP Iberian Zaragoza Rail Terminal and CSP Iberian Rail Services. Copyright (C) PortSEurope. All Rights Reserved. 2020.

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