Spain: EIB finances new lock for Port of Seville
Luxembourg, Luxemburg – The European Investment Bank (EIB) has granted a EUR 100 million loan to the Seville Port Authority for the construction of a new entrance lock for the Port of Seville.
The contract for the first tranche of this loan (EUR 50 million) was signed 2006-06-27 in Seville by EIB Vice-President Isabel Martín Castellá and the Chairman of the Seville Port Authority, Manuel A. Fern´ndez González, in the presence of the Minister for Public Works, Magdalena Álvarez Arza, and the Mayor of Seville, Alfredo Sánchez Monteseirín.
This EIB-financed project is intended to upgrade and improve access to the Port of Seville and mainly consists of replacing and enlarging the portâ€˜s entrance lock. The new lock will make it possible to increase the portâ€˜s capacity and meet the growing demand from maritime traffic.
The Port of Seville forms part of the trans-European ports network (TEN) and is a key hub of trade flows in Andalusia, the Spanish region that is the biggest recipient of European Union aid (Objective 1).