PSA Venice and North Adriatic Sea Port Authority extend concession by 25 years

PSA Venice has agreed with the North Adriatic Sea Port Authority (AdSP) to extend the existing concession by 25 years.

The new contract begins on October 1, 2024 and runs until October 1, 2049, while the original 25-year concession dates back to 1997.

Global port and terminal operator PSA said it will invest around $86 million in the Italian container terminal, including over $60 million to purchase new equipment, modernize existing cranes and invest in new quay cranes.

“This achievement comes at a critical time in the transition to a renewed concession system and marks a new beginning for our port, the city of Venice, the Veneto region and the entire North East. We are also proud to partner with a global company that is actively committed to sustainability and the green transition,” said Port of Venice President Fulvio Lino Di Blasio during the new concession ceremony on June 6.

The new concession was approved by the North Adriatic Sea Port Authority (AdSPMAS) Management Committee on June 1st.

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