Monaco has acquired a 20 percent stake in the port of Cap d’Ail. The amount has not been disclosed.
The purchase would appear to be a strategic move ahead of the awarding of a new concession contract in 2017. Deputy General Manager of the Monaco Ports Operating Company (SEPM) Daniel Réalini told La Gazette de Monaco that “this is only a small advantage.”
“This is an investment, a strategic approach and not an operational one,” he added. the Port of Cap d’Ail has the capacity for about 300 vessels.
The investment takes place in the context of the Principality’s wider engagement with ports in the region. This summer the Ventimiglia port of Cala del Forte will open, operated by SEPM. The Monaco Ports Operating Company had also shown interest in the Port of Beaulieu, but the length of the concession and the financial conditions were deemed to not be interesting.
PHOTO: The Port of Cap’Ail