- The EIB has signed a €29 million loan with Autorità di Sistema Portuale del Mar Tirreno Centro Settentrionale.
- CDP has also granted €50 million in financing to the organisation under a funding agreement for the same amount from the EIB to CDP.
- The funds will be used to extend the breakwater, dredge new docks, expand rail access to the port of Civitavecchia and start building the new Fiumicino commercial port.
Financing totalling around €80 million has been granted by the European Investment Bank (EIB) and Cassa Depositi e Prestiti (CDP) to Autorità di Sistema Portuale del Mar Tirreno Centro Settentrionale for the development of the ports of Civitavecchia and Fiumicino. The goal is to support the modernisation and expansion of Rome’s ports, helping to increase their productivity and improving passenger services. In concrete terms, the EIB will provide €29 million via a direct loan to Autorità di Sistema Portuale del Mar Tirreno Centro Settentrionale. A further €50 million will be granted by CDP after it concluded a funding agreement with the EIB for this amount.
After the first €50 million tranche granted by the EIB in November 2018, the resources announced today bring the total financing for the expansion of the ports of Civitavecchia and Fiumicino to €129 million. Total EIB support for Italian ports now exceeds €1 billion, confirming the EU bank’s role as the main financer of Italian port authorities in a strategic sector for connectivity and national and European economic development. For its part, CDP has provided over €200 million to support the sector in the last three years alone.
The financing will enable various works at the port of Civitavecchia to take place, including the extension of the external breakwater to protect the docks from storm surges, thereby helping to reduce the number of non-operating days and resulting in increased productivity and efficiency. Dredging will also be carried out to create new docks and to make the entrance channel to the port deeper for the passage of ships. In addition, railway access to the docks will be expanded, renewing and improving the existing marshalling yard and the entrance to the container terminal.
The funds will also go towards initial planned works for the new commercial port of Fiumicino. This port will be used for passenger transport services and the transit of ships designed to transport cars, trucks and railway wagons. The planned operations involve the construction of breakwaters to protect the piers from erosion, the dredging of a new dock and the construction of ferry, cruise ship and fishing boat docks.
“This operation once again shows the EIB’s close connection to and strong support of the Italian ports sector, which is key to the connectivity and competitiveness of the country,” said EIB Head of Financing for Infrastructure, Energy and the Public Sector in Italy Andrea Clerici. “The EU bank support will help put the ports of Rome at the cutting edge of infrastructure development, increasing capacity and operational efficiency and ensuring a major increase in passenger and goods loading and unloading capacity.”
“The transport and logistics system is vital for the economic and social growth of Italy,” stressed CDP Head of Financing to Italian Regions and Other Public Entities Tommaso Savi. “Acting in concert with the EIB, we are proud to help upgrade the ports of Civitavecchia and Fiumicino, consolidating our partnership with Autorità di Sistema Portuale del Mar Tirreno Centro Settentrionale, which has also received advisory services from us in recent years. CDP’s commitment to the development of the Italian ports sector spans a number of fields, from advisory services to financing for entities and businesses.”
“This is a strategic operation for the Rome and Lazio port system, financing the historic launch of works for the commercial port of Fiumicino and other equally important developments in the port of Civitavecchia, such as the extension of the breakwater, the dredging of the port’s entrance channel and the expansion of the “last-mile” rail access,” said Autorità di Sistema Portuale del Mar Tirreno Centro Settentrionale President Pino Musolino. “This latest agreement with the EIB and CDP consolidates a key partnership, enabling AdSP to act directly for the completion of work needed to develop the infrastructure in our network.”
Background information
The European Investment Bank (EIB) finances projects in four priority areas: infrastructure, innovation, climate and environment, and small and medium-sized enterprises (SMEs). Between 2019 and 2022, the EIB Group provided more than €45 billion in financing for projects in Italy.
Cassa Depositi e Prestiti (CDP) is the national promotional institution that has supported the Italian economy since 1850. It is committed to accelerating the industrial and infrastructure development of the country in order to contribute to its economic and social growth. CDP’s core activity promotes sustainable regional development as well as the growth and innovation of Italian companies, including internationally. It partners with local authorities, providing funding and advisory services to build infrastructure and improve public utility services. It is also active in the field of international cooperation to implement projects in developing countries and emerging markets. Cassa Depositi e Prestiti is financed from entirely private resources via postal savings bonds and passbooks and through issues on the national and international financial markets.
Autorità di Sistema Portuale del Mar Tirreno Centro Settentrionale is the entity that, by virtue of Italian Law 84/94 and Legislative Decree 169/2016, manages the ports of Civitavecchia, Fiumicino and Gaeta (the Rome and Lazio ports network).