Port Authority of Valencia to Invest EUR233M in Development
- Business & Finance
The Port Authority of Valencia (AVP), or VALENCIAPORT, has just announced plans to invest more than EUR233 million in development of Valencia, Sagunto and Gandia ports during the next tree years.
Over EUR35 million will be invested in Port of Valencia’s new berths, port facilities and access roads, the authority said in its announcement.
Other improvements under this plan will include significant amount of dredging works in the Principe Felipe and Levante docks area.
According to the VALENCIAPORT’s release, road and rail connections will also receive multi-million investments for remodeling activities, including works such as the extension of the South Road extension and new access to the cruise ship pier and depot.
Upon the completion of these capital development operations, these ports will be the first on the Mediterranean to be able to handle the new generation of 18.000 TEU container vessels, AVP said.