MALAGA PORT EXPANSION

The project will expand the capacity of the Port of Málaga through the construction of a new multipurpose maritime terminal. As part of a broader investment programme, the project also includes the provision of onshore power supply for vessels in all port terminals, a new border inspection building for cargo and investments in security equipment for passenger terminals.

The aim is to expand the port facilities, by adapting them to future traffic demand and enhancing the sustainability and efficiency of port operations. The project is expected to comprise the construction of a new multi-purpose terminal (including new quays, pavements, land reclamation and dredging); the onshore power supply infrastructure at the port; a new bridge over the river Guadalmedina to improve land connectivity between the port areas on both riverbanks; the construction of a new border inspection post; and several energy efficiency and renewable generation measures targeting the port's internal demand for electricity.

The Project will improve the competitive position of maritime transport by increasing capacity, enabling modal shift from more carbon intensive modes and enhancing interoperability between transport modes. These actions will reduce GHG emissions as well as other negative transport externalities, which would otherwise be incurred by non-users, for instance from noise and local emissions.

EIB financing provides the client with attractive financial conditions, including long tenor and grace periods -especially compared to alternative funding sources- and flexible loan terms, such as long grace and disbursement periods, which are therefore better suited for the implementation of the Project. EIB's financing also supports the Promoter in achieving diversification of funding sources and contributes to the stability of its capital structure.

Where and if applicable and based on a risk-based approach as defined in the EIB's Environmental and Social Policy, the requirements of the Environmental Impact Assessment (EIA) Directive 2011/92/EU as amended by Directive 2014/52/EU, Birds Directive 2009/147/EC, Habitats Directive 92/43/EEC, Marine Strategy Framework Directive 2008/56/EC and Water Framework Directive 2000/60/EC will be checked during appraisal. The competent authority in Spain has concluded that, subject to the conditions described in their environmental decision, the construction of the new multipurpose terminal is not likely to have significant effects on the environment, including in respect of the potential impacts on the two Natura 2000 sites in the vicinity of the Project, Montes de Málaga - ES6170038 and Bahía de Málaga-Cerro Gordo - ES0000504 and decided to screen out the Project. In line with the screen-out decision and the applicable national legislation, this Project component was thus deemed not to be required to undertake a full environmental impact assessment and consequently, has been subject to simplified environmental impact assessment. The project is expected to contribute to climate action and environmental sustainability (CA&ES) objectives, in particular to climate mitigation and climate adaptation.

The Promoter shall 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. The procurement procedure has not yet been completed and consequently there is no information on the contractor.