EIB commits €60m for Port of Leixões upgrade in Portugal
The European Investment Bank (EIB) has sealed a significant €60 million loan agreement with Administração dos Portos do Douro, Leixões e Viana Do Castelo, S.A. (APDL) to fund crucial maritime enhancements at the Port of Leixões. The project involves deepening the access channel and expanding the existing breakwater, aligning with the objectives of the European Union’s Trans-European Transport Network (TEN-T).
The primary aim of this initiative is to bolster the efficient transportation of both people and goods, ensuring accessibility to employment opportunities and essential services, while also fostering trade and economic expansion. The overall cost of the project is estimated at approximately €190 million, with the EIB loan being backed by the Portuguese government.
On September 11th, the formal signing ceremony for this landmark agreement unfolded at the Port of Leixões. Dignitaries in attendance included the Minister for Infrastructure, João Galamba; the Vice-President of the EIB, Ricardo Mourinho Félix; and the Chairman of APDL, João Pedro Neves. Neves emphasized the pivotal role this investment plays in financing the modernization and enlargement of the most significant port in the north-western region of the Iberian Peninsula, particularly concerning cargo and container operations.
Minister João Galamba emphasized the transformative impact of the impending work, asserting that it would bolster the Port of Leixões and reinforce its significance within Portugal’s northern economy. He lauded the EIB’s unwavering commitment to enhancing Portugal’s port infrastructure and underlined the forthcoming cooperation and substantial investments aimed at aligning the sector with new strategic visions. These plans encompass developing offshore wind projects and addressing the challenges of energy and digital transitions.
João Pedro Neves, Chairman of APDL, hailed this investment as one of the most substantial in recent years, serving not only the northern region but the entire country. He stressed the growth potential it would unleash, particularly benefiting container transport and other segments like dry bulk and agri-food, thereby meeting the needs of businesses in proximity to the Port of Leixões.
Ricardo Mourinho Félix, the Vice-President of the EIB, highlighted the multifaceted impact of this investment. In addition to deepening access channels for larger vessels, he underlined its role in fostering economic and social cohesion in the region. Mourinho Félix emphasized that the loan to the Port of Leixões signifies support for Portugal’s maritime progress and aligns with the common vision of an interconnected Europe.
The EIB remains steadfast in its commitment to bolstering growth and resilience across Europe’s transport infrastructure. This policy is designed to promote sustainable and more efficient transportation for both people and goods, ensuring accessibility to employment and services, while also fostering trade and economic growth. Additionally, it aims to reinforce economic, social, and territorial cohesion within the European Union, establishing seamless cross-border transport systems with no missing links or bottlenecks.
