LEIXOES PORT INVESTMENTS

Promoter – Financial Intermediary

APDL - ADMINISTRACAO DOS PORTOS DO DOURO LEIXOES E VIANA DO CASTELO SA

Location

• Portugal

Description

Improvement of the maritime accessibility and extension of the breakwater of the Port of Leixões in the North of Portugal.

Additionality and Impact

The project improves the maritime access of a Core TEN-T port and allows the further development and expansion of the port. The project will increase the efficiency and safety of port operations and allows larger vessels to enter the port. The availability of high quality port facilities that can accommodate deep sea vessels and are well connected to the hinterland allows importers and exporters to optimise their supply chain and increases their competitiveness. The project supports a modal shift from more carbon intensive transport modes to maritime transport and reduces hinterland transport distances. The shift to more sustainable multi-modal transport chains reduces negative transport externalities like congestion, accidents and emissions in the wider region.

EIB financing will contribute to diversify the company's funding sources and lengthen the average maturity of the company's debt, while providing the necessary flexibility to implement the project in terms of drawdowns and availability period.

Objectives

The project will enhance the maritime accessibility to the existing port facilities, allowing bigger vessels to call at the port, reducing waiting times and, consequently, alleviating operational and safety constraints. The project will also allow a further development of the outer port. The project will contribute to the competitiveness of the port and of the region, and foster a more sustainable growth.

Sector(s)

• Transport - Transportation and storage

Proposed EIB finance (Approximate amount)

EUR 60 million

Total cost (Approximate amount)

EUR 190 million

Environmental aspects

Compliance with the SEA Directive 2001/42/EC, the EIA Directive 2014/52/EU amending the EIA Directive 2011/92/EC, the Habitats Directive 92/43/EEC, the Birds Directive 2009/147/EC, the Water Framework Directive 2000/60/EC, as well as biodiversity assessment requirements, climate change adaptation issues, mitigation/compensation measures and environmental and social monitoring plans, will be assessed during appraisal and/or allocation phase for each project component, whenever applicable.

Procurement

The Bank will require the promoter to ensure that contracts for the implementation of the project have been tendered in accordance with the relevant applicable EU procurement legislation, Directive 2014/24/EU, where applicable, as well as Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU (OJEU), as and where required. The main works contract has been announced in the OJEU under reference 2019/S 040-089352.

Status

Signed - 25/05/2023