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Port Authority of Gioia Tauro reports positive closing of 2017 final balance

Gioia Tauro, Italy (PortSEurope) June 22, 2018 – With the support of the auditors, the Port Committee, has approved the final balance for the financial year 2017 of Portuale di Gioia Tauro (Port Authority of Gioia Tauro).

The authority, led by Andrea Agostinelli, has closed the year with an administration surplus of over €77 million ($89.84 million). These are sums, in part, already tied to the infrastructural enhancement of the ports that fall within their own circumscription, through the creation of works deemed strategic, for a value of €65 million ($75.84 million), based on what is defined in the Triennial Operational Plan 2018/2020 of the port.

The increase in the cash value was recorded which, in the course of 2017, rose from an initial €121 million ($141.18 million), relating to the end of 2016, to over €130 million ($151.68 million) at the end of the 2017 financial year. Liquid assets, which have a clear intended use and are immediately available to finance infrastructure works.

The amount of the accruals assessments, carried out in 2017, amounted to €26.94 million ($31.43 million), while the commitments for the period amounted to approximately €17 million ($19.83 million). From the collection activity, on the other hand, a value of about €32 million ($37.34 million) was reported, while payments made amounted to around €24 million ($28 million).

The wise economic management of the institution has been, as for many years, also aimed at the lowering of anchorage fees that are reimbursed to shipping companies that dock at the ports of call of the Port Authority of Gioia Tauro.

Specifically, for the year 2017, in order to support the competitiveness of its ports and thanks to the reduction in current expenditure, as required by current legislation, the Port Authority has allocated approximately €3 million ($3.5 million) for the reimbursement of taxes anchorage to shipping companies.

Gioia Tauro is the headquarters of Autorita’ di Sistema Portuale dello Stretto (AdSP – Strait Port Authority), which also represents the ports of Crotone, Corigliano Calabro, Taureana di Palmi, Villa San Giovanni, Vibo Valentia, Reggio Calabria, Messina, Milazzo and Tremestieri.

Source: Autorità Portuale di Gioia Tauro

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