Record investment for Algeciras Bay

One of the biggest private investment packages is in the new container terminal being built on behalf of Hanjin Shipping, which will absorb ¢163m ($221.5m) in its initial phase.

Alpetrol is investing ¢118m ($160.4m) in a new liquid bulk terminal on Isla Verde Exterior, while CLH is investing ¢24m ($32.6m) to modify its existing installation in the Inner Harbour.

A bio-diesel plant, costing ¢30m ($40.8m), is also projected by Green Fuel, while a ship repair installation in Campamento has allocated a further ¢11m ($14.9m) for a dry dock.

Investment planned by the port authority remains the highest level ever allocated to a single year. Of the ¢153m package, ¢40m ($54.4m) has come from the European Union’s regional development fund, which will finance work on Isla Verde.