Release date: 26 March 2003
Promoter – Financial Intermediary
Administração dos Portos da Região Autonóma da MadeiraLocation
Description
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.
Objectives
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.
Comments
Ports
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 50 million indicatively
Total cost (Approximate amount)
EUR 100 million indicatively
Environmental aspects
The project is designed to meet all relevant environmental laws and regulation.
Procurement
Award of works, equipment supply and services contracts will comply with national and EU legislation.
Status
Signed - 24/11/2003