New investment in Spanish ports could top €1.6bn

The process is linked to changes in the Ports and Merchant Marine law made in 2014. Concessions can now be lengthened up to 50 years, bringing them into line with many port operators in the rest of Europe. Previously, Spain insisted on a maximum concession period of 35 years.

In total, some 323 requests were submitted by terminal operators for extensions to their basic concessions and a further 34 requests for simple time extensions. The combined investment that could be generated is in the region of €1.651bn, of which €100m is in the form of reduced tariffs for users. In total, 28 port authorities are involved.

In terms of port authorities, Vigo, with 41, has received the most requests, followed by Barcelona and Huelva, with 23 each. Thereafter comes Tenerife with 20, and Bilbao and Las Palmas with 19.

As for promised investment, Barcelona leads the table with €450m pledged, followed by Valencia with €237m, Algeciras (€183m), Ferrol-San Cibrao (€123m) and Gijón (€100m).