Brussels, 24/10/2008 (Agence Europe) - On Wednesday 22 October, the European Investment Bank (EIB) and the Grand port maritime de Marseille (GPMM) signed a financing agreement for the “Fos 2XL” Marseilles Port extension.
This project, which comprises the construction and commissioning of two new container terminals at Fos-sur-Mer (western docks of Port of Marseille Fos) by 2010, will increase container traffic at the Port of Marseille Fos two and half times (from 1 million containers today to 2.5 million), confirming the Port of Marseilles' position as France and the Mediterranean's number one port. The new infrastructure will also lead to the creation of some 400 direct jobs in the port area and several thousand in related sectors. The EIB considered that the GPMM project met several of the objectives of trans-European transport networks development policy in view of the Port of Marseille Fos and Marseilles' strategic location for the establishment of motorways of the sea and the intermodal transport chain in general.
The EIB has offered to participate in the financing of this €210 million project by means of a €100 million credit line open for a period of three years and to be drawn down in several tranches. The maturity (from 5 to 30 years), interest calculations, repayment schedule and rate will be determined for each individual tranche requested. The Fos 2XL construction works were launched in 2007. A more than one kilometre-long quay is in the process of completion and the second phase of the dredging works will commence by the end of the year. The private operators of the future terminal - MSC and Port Synergy (CMA CGM), the world's second and third biggest container terminal operators - will continue with their own investment projects in 2009 with a view to commissioning in 2010. (O.L./transl.rt)