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Galicia Port Operators Benefiting From New Port Law

Galicia port operators benefiting from new port law

Galicia Port Operators Benefiting From New Port Law

Vigo, Spain (PortSEurope) February 20, 2019 – More than 30 companies in Galicia have extended their port concessions to 50 from 35 years, taking advantage of the new port law adopted in June 2018, the president of regional ports agency Portos de Galicia, José Juan Durán, said.

According to Durán, the measure was raised “as an instrument to facilitate the amortisation of investments” and has given “an important boost” to the port sector of Galicia. The president of Portos de Galicia has explained that the initiative can be joined by both companies that already are concessions and want to expand them and new interested entities.

Of the more than 30 companies that have already taken advantage of the extension, there are a total of 15 nautical clubs, such as the Ribadeo Royal Yacht Club or the Ría de Ares Yacht Club, as well as many other port operators, such as for example shipyards.

Source: 20minutos

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