Just recently, Portugal announced a meticulous plan amounting to €4 billion to expand and modernise its main ports in the next 10 years. 75% of this task is going to be done by private companies, according to multiple media reports.
Infrastructure Minister Miguel Pinto Luz has emphasized that this investment is going to be made in six ports, including the port of Sines. Portugal’s ports hold a lot of potential in bringing in extra profits because of the country’s privileged location in Europe.
Portugal has an incredible coastline and the ruling government seeks to reap the benefits of this location to attract more investment into the country. There are also plans to launch 15 fresh concessions by 2035, as per reports.
Portos5+ – Strategy for Continental Commercial Ports 2025-2035
The Portuguese government has approved Portos5+, a decade-long strategy for mainland ports covering 2025-2035. The plan is aimed at turning national ports into competitive public interest infrastructures through private investments, legal reforms and more meticulous processes.
Portos5+ – or the Strategy for Continental Commercial Ports 2025-2035 – is making global headlines as Portugal eyes major changes for its main ports. The increase in cargo handling at the main commercial ports of the continent is a core goal of this strategy for 2035.
Portugal projects that these investments are going to increase cargo movement to 125 million tonnes annually in a decade, a 50% increase compared to the most recent data, in addition to a 70% rise in container throughput to 6.5 million TEUs.
