Port of Marseille Fos to Receive EU Funding
- Business & Finance
The French port of Marseille Fos is to receive an EUR 50 million (USD 58.4 million) support under a funding agreement with European Union institution the European Investment Bank (EIB).
The deal would support five key development projects, which require a total investment of EUR 136 million.
These projects include connecting the two existing Fos 2XL deepsea container terminals via a mid-section to provide a continuous quay length of 2.6km. Due to start this summer, the extension will increase capacity by 15-20% and improve berthing for ultra-large boxships, according to the port.
Two other projects in the Fos western harbour area are also covered under the agreement – further development of the Feuillane logistics park and renovation of two ship refuelling stations. Meanwhile, in the Marseille eastern harbour, the funding will go towards reorganisation of the Corsica and North Africa ferry passenger terminals and enlargement of the Passe Nord access for mega-cruise ships.
The agreement was signed on May 28 by Marseille Fos CEO Christine Cabau Woehrel and EIB vice-president Ambroise Fayolle, who later visited the site of the container terminal project. Mme. Cabau Woehrel commented:
“Ten years after having helped Marseille Fos to create Fos 2XL, we are honoured that the EIB is renewing its confidence in our projects to such a level. We now have the investment capacity to continue developing our infrastructure and to reinforce our international scope,” Marseille Fos CEO, Christine Cabau Woehrel, said.