EUROPEAN UNION, GROWTH PASSES FROM VENICE

(VELINO) Roma, 4 Dec - A project that aims to increase thecapacity of the port of Venice and to boost growth by investingin European infrastructure was presented in London by theItalian embassy and the Venice Port Authority. The project, theVenice Offshore-Onshore Transfer System, was presented at theresidence of Ambassador Pasquale Terracciano. It will useItalian and European funding to attract private capital. Itsgoal is to expand the port's freight capacity through theconstruction of an offshore terminal around eight miles fromthe mouth of the Malamocco Channel, in combination with anonshore terminal that

(VELINO) Roma, 4 Dec - A project that aims to increase thecapacity of the port of Venice and to boost growth by investingin European infrastructure was presented in London by theItalian embassy and the Venice Port Authority. The project, theVenice Offshore-Onshore Transfer System, was presented at theresidence of Ambassador Pasquale Terracciano. It will useItalian and European funding to attract private capital. Itsgoal is to expand the port's freight capacity through theconstruction of an offshore terminal around eight miles fromthe mouth of the Malamocco Channel, in combination with anonshore terminal that will be built in Marghera. Completion ofthe whole system will cost approximately 2.2 billion euros. Itwill enhance the role of the northern Adriatic logisticsplatform and meet growing demand for freight traffic in Centraland Eastern Europe. The presentation of the project was openedby Ambassador Terracciano, followed by a detailed report by thepresident of the Venice Port Authority, Paolo Costa. The eventwas attended by over 50 investors, consultants, lawyers andexperts on the logistics and maritime transport sectors. MrCosta explained that the project will reduce shipping time onthe Far East-Europe route by about five days, with a positiveimpact on the environment. It will also make Italy moreattractive for investors and provide a safeguard for Venice,eliminating oil transport and avoiding the need to widen thelagoon's waterways. vel.