​Puertos del Estado and the Port Authorities approve the allocation proposal

Port funds will invest 167.7 million in infrastructures and innovation during 2020

• The 2020 Inter-port Compensation Fund will allocate 46.1 million
• The Ports Fund 4.0 for start-ups and spin-offs will contribute 5.6 million next year
• The Financial Fund for Land-Port Accessibility will inject 116 million in 2020

09-19-2019 (Ministry of Development). The investment muscle of the Spanish general interest port system has today determined a figure of 167.7 million Euros, between October this year and the end of 2020. The 28 Port Authorities have made this decision in Gijón, where they convened at the request of Puertos del Estado, a public body ascribed to the Ministry of Development. This large amount- fruit of the system's three funds- will be invested in accessibility and infrastructure works, as well as innovation start-ups and spin-offs, along Spain's entire coastline.

Salvador de la Encina, president of Puertos del Estado, has stressed that "the port system's capacity to promote the economy and employment goes beyond its own daily activity, whether industrial, related to passengers or tourism, or nautical sports, evidencing its potential and decisive role as a redistributor of wealth".

The allocation proposed by the Inter-port Compensation Fund (FCI), Ports Fund 4.0 and the Financial Fund for Land-Port Accessibility was approved by the 28 port authorities, which convened this year in Gijón following Puertos del Estado's policy of holding sector meetings to enhance the system's various authorities. The president of the Port authority of Gijón, Laureano Lourido, and the mayor of the city, Ana González, welcomed port representatives from all over the country.

THE 2020 INTER-PORT COMPENSATION FUND

The 2020 Inter-port Compensation Fund (FCI) is in charge of distributing 46.1 million Euros. Thus, 7.6 million Euros represent navigation aid; 13.5 million are assigned to the Port Authorities which, in addition to their insularity, specific isolation and outermost position, meet certain parameters, such as less than 2.5% yield; 1.4 million represent safety measures; and 23.4 million are distributed amongst a large number of Port Authorities to finance measures of various kinds.

The contribution made by Puertos del Estado to FCI 2020 has reached 9.5 million, in order to cover the needs indicated by various Port Authorities assigned headings in the Fund; this has confirmed our unequivocal commitment, as a public body, to serve as a means of redistributing resources in the state's port system, seeking to make the system self-sufficient and to encourage fair competition amongst Spanish ports.

"It is a matter of helping and encouraging Spanish territory to branch out, covering the various situations and specificities of its ports", explained De la Encina.

PORTS FUND 4.0

Ports Fund 4.0 for start-ups and spin-offs will contribute 5.6 million next year. The port system has made a huge strategic bet: innovation. Endowment of this first stage will be approximately 25 million Euros (funds directly contributed by the port authorities, paid over four years, starting in 2020) and will be managed through 14 head offices all over Spain.

This project will incentivize creation and the consolidation of a technological business network around the ports hosting the project, retaining talent and quality jobs. This network will consist of start-ups and already existing enterprises pursuing new lines of business in the technological field (spin-offs).

Such innovating services or processes will be addressed to the port logistics sector, clearly seeking implementation in the market and in the Spanish port system as a whole.

Ports 4.0 has 14 head offices: Alicante, Algeciras, Barcelona, Bilbao, Cartagena, A Coruña, Las Palmas, Madrid, Málaga, Balearic Islands, Santander, Seville, Valencia and Vigo.

THE FFATP FUND WILL FINANCE 56 PROJECTS IN 2020

The Financial Fund for Land-Port Accessibility (FFATP) will inject 116 million in 2020. This amount indicates how the Port Authorities are still keen on helping improve port accessibility by land.

Of the total amount channeled through FFATP 2020, 51.3% (59.5 million) represents "last mile" linear measures; 29.6% (34.3 million) is aimed at improving existing linear infrastructures in the general network and 19% (22.1 million) focuses on creating or improving terminals.

Railway transportation is the most important, as it receives 93% of all funds contributed by FFATP 2020, i.e. 107.8 million Euros, distributed amongst 40 projects. The other 16 projects focus on improving road access.

Salvador de la Encina has thanked all the Port Authorities for their effort, ensuring that the three funds are still generously endowed for the 2020 financial year. "I think I should point out the system's generosity, particularly the Inter-port Compensation Fund, as it helps cover any urgent or unexpected needs arising in underprivileged general interest ports", the president of Puertos del Estado concluded by saying.