France: EIB supports the development of Marseille seaport
28 May 2018
This EUR 50m financing is crucial for the development of France's largest port, the strategic location of which makes it key to transport and logistics in Europe and the Mediterranean.
Five strategic projects financed in various sectors including the connection of the Fos container terminals, the reorganisation of the Corsica/North Africa ferry terminals and the development of the La Feuillane logistical site.
The European Investment Bank (EIB – the EU bank) today renewed its partnership with the Port of Marseille Fos by granting EUR 50m in financing to support the port's development projects. The partnership agreement was signed on Monday, 28 May 2018 by CEO of the Port of Marseille Fos Christine Cabau Woehrel and EIB Vice-President Ambroise Fayolle, who then visited the site connecting Fos’ two existing container terminals (Darse 2).
This new partnership will be based on financing five projects requiring total investment of EUR 136m. For the eastern harbours, this covers the renovation of the international and Corsica passenger terminals and the widening of the northern pass to accommodate large cruise ships. In the west, it includes the renovation of posts K3/K4 for ship bunkering, continuing development of the La Feuillane logistical site and the expansion of two existing operational quays to provide a 2.6 km-long quay to accommodate the largest container vessels simultaneously.
“Ten years after it helped the Port of Marseille Fos to create 2XL terminals, we are honoured that the EIB has placed its trust in us once again by providing EUR 50m of financing for our projects. This will give Marseille Fos the investment capacity it needs to continue developing its infrastructure and to strengthen its international dimension. This will support more than just our own projects: the entire industrial-port cluster will benefit from the funds provided to us to attract the biggest international investors to the area,” said CEO of the Port of Marseille Fos Christine Cabau Woehrel.
“I am very pleased that this large-scale financing will be supporting the attractiveness and development of the Port of Marseille Fos,” said EIB Vice-President Ambroise Fayolle. “By providing France's largest port with the means to develop modernised and efficient infrastructure tailored to market requirements, the EU bank is strengthening the capacity, competitiveness and international dimension of the only port complex of its kind in the country. Our goal is to help with the long-term development of the Port of Marseille Fos and support businesses and jobs on the site.The EIB is particularly proud to be supporting the ambitions of a strongly European and international port.”
This partnership is fully in line with the determination of Port of Marseille Fos – France's biggest port – to continue its investment policy and its development in order to strengthen its international dimension and attractiveness as a location for large companies.
Traffic has been increasing sharply for more than three years, consolidating the Port of Marseille Fos’ reputation within France and abroad. Indeed, the port has been able to take full advantage of the economic recovery by developing its strategy to diversify and conquer new markets.
This EIB financing will provide the Port of Marseille Fos with an investment capacity enabling it to face important deadlines for the end of the current 2014-2018 strategic plan confidently and to lay the groundwork for the upcoming 2019-2023 strategic plan.
A key player in getting investment back on track at a local level, the EIB has provided more than EUR 2.4bn for direct investments in the PACA Region since 2011, supporting projects in key sectors such as transport and maritime infrastructure, education and training for young people, support for innovation and businesses, research, and hospitals.
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