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Signature(s)

Amount
€ 40,000,000
Countries
Sector(s)
Portugal : € 40,000,000
Transport : € 40,000,000
Signature date(s)
19/01/2007 : € 10,000,000
24/11/2003 : € 30,000,000

Summary sheet

Release date
26 March 2003
Status
Reference
Signed | 24/11/2003
20020043
Project name
Promoter - financial intermediary
Portos da Madeira
Administração dos Portos da Região Autonóma da Madeira
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 50 million indicatively
EUR 100 million indicatively
Location
Sector(s)
Description
Objectives

The project concerns the extension of the existing breakwater, the expansion and improvement of the container wharf, and the acquisition of new equipment for containers in the Port of Caniçal, leaving the Port of Funchal for cruise and leisure ships. It also comprises the extension of the breakwater at Porto Novo and the development of a logistic activities area next to this port.

The project aims at rationalising port infrastructures in Madeira and providing adequate infrastructure for the near future. Productivity improvement and capacity increase will strengthen the region’s competitiveness and will ameliorate maritime links between the islands and the continent. In addition it will bring environmental benefits to the capital city of Funchal, as container activities will be diverted to a specialised terminal in Caniçal.

Environmental aspects
Procurement

The project is designed to meet all relevant environmental laws and regulation.

Award of works, equipment supply and services contracts will comply with national and EU legislation.

Comments

Ports

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

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Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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