Finance

Further expansion for Spain’s busiest port

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ALREADY Spain’s busiest port in terms of tonnage of cargo, Valencia is set to expand further, consolidating that position in the process. A new €1.2 billion investment is a combination of public and private sector cash and will be primarily used to expand the port’s northern area, increasing its capacity to five million containers, twice what it is now. As much of this is being built from scratch it will also incorporate the latest technology making the loading and unloading process faster. The project is set to generate a further 7,000 jobs according to a forecast by the Generalitat. Last year Valencia port had container traffic totalling 77 million tons while Barcelona shifted 67 million tons.

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