The engineering, construction and commissioning work for the Isla Verde terminal has been given to the Spanish company Tecnicas Reunidas.
“Construction work on the terminal, totalling an investment of €110 million ($146 million), is set to commence shortly, with commissioning due for 2011,” said a statement from the Port of Algeciras.
The contract has been awarded by the terminal developers, Alpetrol Terminal S.A.
“The terminal’s technological developments are set to pioneer safe, environmentally friendly procedures in the Mediterranean.”
The Isla Verde Hydrocarbon Maritime Storage and Distribution Terminal is being developed on a six hectare site on reclaimed land.
Alpetrol was chosen by the Port of Algeciras to develop the terminal in 2005.
Initial plans called for the terminal to have 300,000 m³ of storage capacity for liquid bulk products, primarily bunker fuel.
The port authority’s latest statement said Alpetrol had already awarded a first phase investment package, valued at €1.5 million ($1.9 million), to Acciona Infraestructuras and SGS to prepare the plots of land where the terminal will be built.
“Preparation work is already well under way,” it said.
“The terminal’s technological developments are set to pioneer safe, environmentally friendly operational procedures in the Mediterranean,” said the statement.
“This initiative will create 400 direct jobs during construction and a further 150 direct and indirect jobs once operational.”
When Alpetrol was chosen by the port of Algeciras it was described as being jointly owned by Lia Oil (part of Alliance Oil Company of Russia) and Vilma Oil.