Port of Valencia in Spain, the already busiest container port in the Mediterranean, is set to expand. TiL would partner with Valencia Port on this construction to add a fourth port with the container capacity of 5 million TEU, a project worth more than 1.5 billion dollars.
TiL, Terminal Investment Limited, has been founded to secure container capacity in the main ports called by its majority owner and primary client, MSC. MSC's growth in container shipping is, to some extent, supported by TiL's business. With container capacity becoming increasingly limited, securing it seems rather important.
Port of Valencia in Spain, the already busiest container port in the Mediterranean, is set to expand. TiL would partner with Valencia Port on this construction to add a fourth port with the container capacity of 5 million TEU, a project worth more than 1.5 billion dollars. The role of a trans-shipment hub in the West Mediterranean taken by Valencia Port will be strengthened.
The new port will be operated by TiL, whose investment amounts to 1 billion dollars. MSC's Terminal Operator has been running facilities in Port of Valencia since 2006, including the berth with a total capacity of 2 million TEU annually, 20 ship-to-shore cranes, and 28 yard cranes. With the expansion project ongoing, 22 ship-to-shore cranes, 50 automated stacking cranes, and 160 automated guided vehicles will be added. The new container terminal will feature automation, with its power drawing from renewable sources. The vision of MSC Terminal Valencia (MSCTV) is to reduce the emission of greenhouse gas to zero.
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