CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. EIB Financing Port Of Las Palmas Expansion

EIB Financing Port Of Las Palmas Expansion

by Ulrika Lomas, Tax-News.com, Brussels

15 October 2009


The European Investment Bank (EIB) has approved a EUR50m loan for expanding the Port of Las Palmas on the Canary Islands. Representatives of the Bank and the Las Palmas Port Authority signed the finance contract on October 9.

The loan will help to finance the seaward expansion of the Port of Las Palmas, including the construction of a new breakwater – dubbed the “Sphinx” – and the creation of new terminal areas for ro-ro ferry traffic and logistics. All components of the project are scheduled for completion by the end of 2013 so that the new terminal areas can enter into service in early 2014.

The project will increase the capacity of the Port of Las Palmas in anticipation of increased container and passenger traffic. The funding was provided under trans-European transport networks initiative, which aims at fostering the EU's economic and social integration, the free movement of people and goods, and the development of Europe’s disadvantaged regions. The expansion of the port is expected to boost competitiveness and employment in the region.


To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »