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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).

    General enquiries and comments

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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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    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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