Port Authority of Valencia (PAV) in Spain has unveiled a €1.098bn ($1.25bn) investment plan for the period 2021-2025 focusing on sustainability and fuel growth.
The plan includes €27.4m for a new passenger terminal in the Port of València.
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An additional €397m is expected to be invested for the northern container terminal, €100m will be allocated for railway and road accesses, and €56.4m for city-port actions.
Over €60m will be invested in alternative energy projects such as an electrical substation, solar panels and wind power.
In the Port of Sagunto, more than €50m is expected to be spent on railway accessibiity. PAV allocated €19.5m for the generation and conditioning of berths and surfaces in the Muelle Centro 2 and Dique Norte and €8.5m for the integration of the north area and the jetty stand out.
Furthermore, PAV will invest €14.5m in the works on the Serpis 2 quay; €2.8m in the dredging of the port entrance and another €2m for the actions related to the Port of Gandia.
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By GlobalDataThe investment aims to make the port facilities more competitive and effective. It is also expected to generate wealth and employment in the area.
PAV said: “The PAV Investment Plan, validated by the Ministry of Transport, Mobility and Urban Agenda through Puertos del Estado, will undertake projects to consolidate Valenciaport as a strategic hub in the Mediterranean, through which 41% of goods enter and leave Spain by sea, and which will close the 2021 financial year with an increase in total and container traffic, in a sector, maritime transport, which will continue to grow in the coming years.”
PAV manages three state-owned ports of Valencia, Sagunto and Gandía.
In January 2017, PAV unveiled a business plan to invest more than €233m to upgrade the three ports until 2020.
