PSA reaffirms Voltri commitment

In a recent interview, David Yang, PSA’s chief executive for the Mediterranean, Middle East and South Asia, said the company had invested over ¢200m ($266m) in Voltri over the past decade and put forward a plan to phase in an additional ¢50m ($66m) in equipment and infrastructure to the port authority in July 2008.

However, he added that such investments had to be “timed according to market conditions” and were also dependent on the company’s financial viability.

Further, Mr Yang added that trade forecasts putting Italy’s 2009 gross domestic product down by 2.5% and news of year-on-year decreases in Italian industrial production, Italian imports and exports to/from non-EU countries, mean that the first half of 2009 is “expected to be a tough period”.