Private sector cash needed for Valencia expansion
The northern expansion of the Port of Valencia, in Spain, will only go ahead if the private sector can stump up €400m of investment capital, says the port authority La Autoridad Portuaria de Valencia (APV), or Valenciaport.
This finance is needed to create the new quays and container terminals. To date, the APV has not issued the necessary tender for this work as it wants to be sure of interest from the private sector.
As part of its business plan, the APV would fund around a quarter of the necessary resources, while shipping lines or unidentified Asian investors would need to provide the remaining 75%.
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