Port accessTurnover was similar to the previous year’s and amounted to 65.2 million euros while funds generated reached 32.5 million.
There was no further bank debt, and net bank debt stood at 12.9 million euros, 0.40 times Ebitda, thus maintaining, a debt profile much lower than that of the Spanish port system average, standing at 1.97 times Ebitda.
Additional income of 1,703,313 euros came from the European Community Infrastructure Programme under the TEN-T 2011 Connecting Europe Facility as the final payment for the Pancorbo Port-Rail Terminal works and information systems connections.
The investment carried out by the Port Authority of Bilbao in 2016 amounted to 32.3 million euros. This year, plans for investing 88.6 million have been made, proceeding from the Port Authority’s own resources, bank loans, and from EU subsidies in the cases of specific strategic projects.
Port Authority Projects completed in 2016:
- Punta Sollana Breakwater ExtensionThe works have taken four years and will boost solid and liquid bulks traffic especially, since the length of the dock has been increased by 330 metres with a minimum 20-metre depth while the area of dock esplanade available now stands at 20,000m². The European Union has contributed some 3.53 million euros to the works as part of the “Efficient operations and improvement in the environmental performance of the Port of Bilbao” project, Call TEN-T 2012. The Port Authority’s own resources were used to finance the remainder of the already certified 11 million euros total cost.In the construction of the breakwater extension, the Port Authority has incorporated as a technical innovation and also more environmental-friendly, high performance concrete, made up of the steelmaking slag produced by the recycling of black slag, an industrial by-product generated in steel manufacturing in the electric arc furnaces in the different steel works in Biscay. In addition, this has enabled the execution budget to be reduced by approximately one million euros with regard to the original budget.
- First phase of the development works for the Railway Logistics terminal at PancorboThe works tender was awarded in December 2015 and will be completed at the end of the present year at a cost of 4.5 million euros.
- Filling of cell between the esplanades of Docks AZ2 and AZ3 The works were commenced and completed in the first half year at a cost of 5 million euros.
- First phase of the development works for the Railway Logistics terminal at PancorboThe works tender was awarded in December 2015 and will be completed at the end of the present year at a cost of 4.5 million euros.
- Filling of cell between the esplanades of Docks AZ2 and AZ3 The works were commenced and completed in the first half year at a cost of 5 million euros.
Port Authority Projects in progress:
- Building of the first phase of the Central Pier and stabilisation works on the old Punta Lucero Quarry.In spite of being different works, both projects were awarded in a single contract at a total cost of 79 million euros. The European Commission will contribute 20% of this amount, as part of the Connecting Europe Facility Programme. The works commenced in September and have a 39-month completion period.
- Arasur Rail Sidings The investment being made in conjunction with the Autonomous Basque Government and the Territorial Council of Alava amounts to 3 million euros, and the works, which commenced in June, will conclude at the end of 2017.
- New Maritime Cruise Terminal Berth at Getxo and mobile embarkation gangway.Total investment will amount to 6 millioneuros, and the works, which commenced in 2016, will be completed in March.
