PSA Venice has agreed with the North Adriatic Sea Port Authority (AdSP) the extension of the existing concession by 25 years.
The new contract will begin on 1 October 2024 and will last until 1 October 2049, while the original 25-year concession dates from 1997.
The global port and terminal operator PSA said it will invest around US$86 million in the Italian container terminal, of which over US$60 million will be used for the acquisition of new equipment, revamping existing cranes, and investments in new quay cranes.
“This achievement comes at a critical phase of transition towards a renewed concession system, and it marks a new beginning for our port, the city of Venice, the Veneto region, and the entire Northeast. We are also proud to collaborate with a global company that is actively committed to sustainability and the green transition,” stated the president of Port of Venice, Fulvio Lino Di Blasio, during the ceremony about the new concession on 6 June.
The new concession was approved by the Management Committee of the North Adriatic Sea Port Authority (AdSPMAS) on 1 June.
