The board of directors of the Valenciaport Authority (VPA) in Spain has approved an eight-year extension of the concession held by APM Terminals Valencia, subject to a new investment commitment exceeding €10 million (US$12 million) aimed at improving the terminal’s productivity, energy efficiency and environmental performance.
With this extension, the concession will run until 2049, reaching the maximum ordinary extension of 50 years permitted under Spanish port legislation.
APM Terminals said the extension responds to the additional investments proposed, which exceed 20 per cent of the investment initially envisaged in the concession and meet the requirements of the Spanish Ports and Merchant Marine Act for this type of substantial modification.
APM Terminals’ concession in Valencia began in 1999 and has been extended sequentially over time, now reaching the ordinary maximum term of 50 years.
The main initiative envisaged is the electrification of the Levante Quay through the installation of the first onshore power supply (OPS) system, one of four that APM Terminals plans to deploy in Valencia. This first phase will include the power delivery centre and the transformation and conversion substation required for its operation, in line with the European port decarbonisation targets for 2030 promoted by the VPA.
The second investment focus will enable the adaptation of the Levante Quay fenders to accommodate large vessels operating under the Gemini Cooperation, in which Maersk and Hapag Lloyd participate. APM Terminals said this upgrade will be critical to serving Asia–Mediterranean services requiring draughts of up to 16.5 metres.