Summary sheet
The project concerns the second phase of the development of the new container terminal of the sea port of the Bay of Cadiz, in the Autonomous Community of Andalucía, which is part of the Trans-European Transport Network (TEN-T). More specifically, to extend the terminal's platform, the EIB will finance the extension of the caisson quay wall, dredging and land reclamation works, as well as the required infrastructure, equipment and utilities meeting eventual future needs. The project also includes the works related to the new terminal's railway infrastructure.
The aim is to improve sustainable transport connections in the south Spanish hinterland, provide additional capacity, as well as increase efficiency in the TEN-T, increasing connectivity between different countries and improves the functioning of the internal market. The availability of high-quality and well-connected port facilities allows importers and exporters to optimise their supply chain and increase competitiveness. The economic costs and benefits and resulting economic return will be assessed in detail during appraisal.
The project expands the capacity and improves the rail connectivity of a well located container port in the Spanish and European transport network. The additional capacity provided by the project avoids that future traffic will need to be handled at other ports further away, leading to additional road transport, or, that traffic would shift to other transport modes (air transport, road transport). The project improves the competitive position and increases the use of short sea shipping and rail transport which have relatively lower environmental costs for society in terms of greenhouse gas emissions, local pollution, noise, congestion and accidents. The project hence reduces the overall environmental costs of transport but also the costs for the users of the port and the shipping services. In the competitive transport market this leads to reduction of the logistic costs for importers and exporters and supports regional economic development and related employment, both in the region where the port is located and in the regions with connections to the port, which include outermost regions of the European Union.
The availability of long-term finance for this type of transport infrastructure at affordable interest rates is as a key contribution of the Bank, considering the very long-term nature of the investment and its positive impact on overall project cost.
By enhancing intermodality, shifting from carbon intensive transport modes to rail and maritime, the project will reduce the negative impact on the environment, improve sustainability and thus contribute both towards the EU objectives and EIB's Climate Action. An Environmental Impact Assessment (EIA) was already carried out in late 2010. Consequently, the Promoter is required to provide additional information to ensure compliance with the Directive 2014/52/EU amending the EIA Directive 2011/92/EU, which will be further verified at appraisal.
The promoter has to ensure that contracts for implementation of the project will be tendered in accordance with the applicable EU procurement legislation, 2014/25/EU as well as Directive 92/13/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.