Portuguese government plans to invest in modernizing its ports

18 December 2006

Lisbon, Portugal, 18 Dec – The Portuguese government is set to invest 304 million euros in the country’s five principal ports before 2010, according to the Strategic Orientations for the Maritime and Port sector.

The Strategic Orientations, presented in Lisbon Friday, are focused on the modernization of the five main ports in order to increase port traffic.

Growth in cargo levels at Portuguese ports has been lower than that for the main Spanish and European ports and the share of the Iberian market for Portuguese ports fell by 5 percent between 2002 and 2005.

According to the Strategic Orientations, investment will be made by port management companies and community funding and over half of the total will be for the ports of Lisbon and Leixões, with 91.4 million for the former and 75.3 million for the latter.

The three remaining ports are those of Aveiro, Setúbal and Sines.

Private investment related to new concessions and the renegotiation of existing ones will be added to the estimated investment. (macauhub)