APB Board Approves 2015 Business Plan
- Business & Finance
The Board of Directors of the Port Authority of the Balearic Islands (APB) has given the go-ahead to the 2015 Business Plan, which includes investments totaling €27.8 million for the five public ports it manages on the islands. The APB is set to close 2014 with a profit of €13.6 million and a forecast turnover of €60.1 million.
Spending will be highest at the Port of Ibiza, with a forecast investment of €12.5 million in 2015. The main project, with a budget of €7 million, involves modernizing and improving the South Quays, followed by €4.4 million for the improvements of the Commercial Quays. A budget of €2.5 million has also been allocated to extending the Botafoc Quays so they can cater for large cruise ships.
The Port of Palma will receive €9.3 million, aimed mainly at improving its cruise facilities, including the extension of Terminal No. 6, extending berthing lines, and organizing surface areas to cater for the arrival of large cruise ships.
A figure of €2.7 million has been allocated to the Port of Mahon which will mainly be spent on projects at the Cós Nou Ro-Ro Terminal, extending the Passenger Quay berthing line to cater for the arrival of large cruise ships, lighting between the APB offices and the Colársega end of the port, and linking the port to the city via the Costa de Ses Voltes street.