The Port Authority of Valencia is set to invest a total of €233m (US$246m) by 2020 to upgrade its three ports.
The investment plan, which regards the three state-owned ports of Sagunto, Valencia and Gandia, includes €56m (US$59m) expected to be spent in 2017 and over €177m (US$187m) planned to be invested between 2018 and 2020.
At the Port of Valencia, the port authority will invest a total of €35m (US$37m) this year, of which €25m (US$26m) will be spent on projects including the construction of new berths.
These include the dredging of the Principe Felipe and Levante docks to 18 m to allow handling of bigger ships.
In 2017, the port authority will also invest a total of approximately €1.7m (US$1.8m) in improving accessibility to the Port of Valencia.
Additionally, about €3m (US$3.2m) are set to be spent in 2017 to upgrade the railway terminal at the Principe Felipe wharf.
According to a statement by the port authority, further investments will be made to upgrade the road network between the Poniente pier and the Costa and Levante docks, with a total of €52m (US$55m) expected to be spent by 2020.