The APB gives the go-ahead to a €27.8 million investment budget for 2015
Palma de Mallorca
04/09/2015
The Board of Directors of the Port Authority of the Balearic Islands (APB) has given the go-ahead to the 2015 Business Plan, which includes investments totalling €27.8 million for the five public ports it manages on the islands. The APB is set to close 2014 with a profit of €13.6 million and a forecast turnover of €60.1 million.
Spending will be highest at the Port of Ibiza, with a forecast investment of €12.5 million in 2015. The main project, which has a budget of €7 million, involves modernising and improving the South Quays, followed by €4.4 million of improvements at the Commercial Quays. A budget of €2.5 million has also been allocated to extending the Botafoc Quays so they can cater for large cruise ships.
The Port of Palma will receive €9.3 million, aimed mainly at improving its cruise facilities, including the extension of Terminal No. 6, extending berthing lines, and organising surface areas to cater for the arrival of large cruise ships. A figure of €2.7 million has been allocated to the Port of Mahon which will mainly be spent on projects at the Cós Nou Ro-ro Terminal, extending the Passenger Quay berthing line to cater for the arrival of large cruise ships, lighting between the APB offices and the Colársega end of the port, and linking the port to the city via the Costa de Ses Voltes street.
Compensation for insularity
At the meeting held yesterday at the Port of Palma, the APB’s Board of Directors also approved a reduction in the port authority’s income of almost €14 million, as a result of the application of the insularity rebates, and of the reduction coefficient on the vessel, passenger, and goods charges for inter-island shipping services.
