Port of Valencia approves construction of new container terminal
The Port of Valencia’s (PAV) Board of Directors has approved the construction project for the container quay of the north extension of the port, with a base budget of €540m (US$570m).
To this will be added the €1.02bn (US$1.07bn) to be provided by Terminal Investment Limited (TIL), which is responsible for the construction and operation of the new terminal under an administrative concession.
It is hoped that the public-private investment of €1.56bn (US$1.64bn) will help to deliver one of the most sustainable terminals in the world, with electricity coming from 100% renewable sources.
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