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Port of Valencia announces investments

Port of Valencia announces investments

WASHINGTON: The Port Authority of Valencia (the APV) has announced big investment plans worth more than USD $246 million. The planned investment will take place over the next three years with its three state-owned ports; Sagunto, Valencia and Gandia, all set to be upgraded.

Announcements were during the launch of the Port Authority’s business plan for 2020. The authority intends to use $37.4 million of the investment to provide new berths and port facilities at the Port of Valencia. There are also plans for dredging at the Principe Felipe and Levante docks. The works are projected to increase the draft of Valencia’s three terminals to 18 meters as the ports prepare to welcome containerships carrying up to 18,000 TEU. This means that the ports will be the first on the Mediterranean to be able to accommodate the new class of cargo ships. Last year, (July 2016), the Noatum Container Terminal in Valencia increased their Koneranes RTG fleet to 27 units.