EIB loans Spain €50m for port efficiency

The loan, one of two offered to Spain by the EIB, will go towards increasing inter-operability between different modes of transport and improve the overall efficiency of the ports, according to the Economic Development Ministry.

Three ports in particular will benefit from the investment: Avilés, Castellón and Vigo.

At Vigo, the government is trying to establish a sea motorway service to Nantes, in France. This is of particular importance because the ro-ro service being operated by the Suardiaz shipping line is transporting around 30,000 units of finished vehicles from north-western Spain to western France. These vehicles, which are a completely new traffic, are being built by Renault, in Valladolid, and will then be being sent by rail to Vigo for onward despatch by sea. However, the daily service to France has yet to make a profit and needs short term economic support.