A change to the 2024 budget forecast approved. The operation with Cassa Depositi e Prestiti
Venice – A 55 million euro loan to finance the dredging of the Malamocco-Marghera canal. It will be activated by the Port Authority of the Northern Adriatic Sea, which on 19 November approved the change to the 2024 budget forecast and established the maximum number of authorizations to be issued for the supply of complementary and ancillary specialist services and for the exercise of port operations pursuant to art. 16 of law 84/94 in the port of Venice and Chioggia. The decisions were taken by the ADSP Management Committee, present the president, Fulvio Lino Di Blasio, the general secretary, Antonella Scardino, the maritime director of Veneto, Filippo Marini, the representative of the Region, Maria Rosaria Anna Campitelli, the representative of the Metropolitan City of Venice, Dennis Wellington, and the Board of Auditors.
The Port Authority highlights that “after having received the favorable opinion of the Board of Auditors, changes in income of 55.2 million were introduced for greater revenues and, mainly, for medium and long-term financial operations”. In particular, the Port Authority “intends to stipulate an unsecured loan of 55 million with Cassa Depositi e Prestiti to deal with the maintenance excavation interventions of the Malamocco-Marghera canal – included among the works referred to in the “Port infrastructure fund” – with the ultimate aim of increasing accessibility to the Venetian port”.
The Authority, while waiting to receive public funds intended for the work, had already planned to self-finance the intervention by optimizing its financial flows; however, the note further explains, “as a mere precaution, in the event that financial tensions arose during construction, the budget balance would be guaranteed by the CDP loan”.
During the meeting, the determination, for 2025, of the maximum number of authorizations to be issued for the supply of specialist, complementary and ancillary services – i.e. specialist services rendered upon request of subjects authorized to carry out port operations – and for the exercise of port operations to concessionaire port companies (i.e. the terminals) and non-concessionaire port companies (i.e. those subjects who do not hold a concession, but authorized to carry out contracted port operations at the terminals). The situation at the port of Venice, explains the ADSP, “remains unchanged, except for the authorization to provide specialist, complementary and accessory services relating to the transport of dusty bulk cargo with tarpaulin trucks from alongside to the warehouse/yard increased from 7 to 10 per cope with the expected increase in demand from the terminals. However, the situation at the Port of Chioggia is unchanged compared to 2024”.
Among the other items on the agenda, the adaptation of economic treatments to the recently renewed national contract for dockworkers was implemented. Furthermore, 7 intra-four-year state property concessions were issued pursuant to art. 36 Nav Code to guarantee operational continuity for dealers. “With the unanimous implementation of the Ccnl by the Management Committee. 2024-2026, signed by Assoporti and national trade union organizations on 18 November 2024, Adsp will be able to guarantee its employees some improvements in terms of remuneration and company welfare, starting from the current month“, declares President Di Blasio.
In the photo: Fulvio Lino Di Blasio
Welcome to World Today News, where we engage in thought-provoking discussions with industry experts about the latest happenings around the globe. Our first segment today brings us to Venice, Italy, where the Port Authority of the Northern Adriatic Sea has just approved a budget change for the upcoming year. Joining us to discuss this important development are Fulvio Lino Di Blasio, President of the Port Authority, and Dennis Wellington, Representative of the Metropolitan City of Venice.
Fulvio, let’s begin with you. As the President of the Port Authority, can you tell us more about the significance of this budget change and what it means for the Port of Venice going forward?
Fulvio Lino Di Blasio: Of course, thank you for having me. The approved change to our 2024 budget forecast will allow us to address critical infrastructure projects, specifically the dredging of the Malamocco-Marghera canal. The 55 million euro loan from Cassa Depositi e Prestiti (CDP) will enable us to maintain and improve the canal’s accessibility, which in turn will benefit our port’s overall efficiency and competitiveness. This budget change is in line with our commitment to self-financing important projects while ensuring financial stability.
Dennis, how do you see this development impacting the Metropolitan City of Venice? Can you share your thoughts on the importance of the Malamocco-Marghera canal for the region’s economy?
Dennis Wellington: Certainly, the dredging of the Malamocco-Marghera canal is crucial for the economic growth of the region. It’s not only a strategic link between Venice and the mainland, but also a key industrial and commercial artery. This project will enhance the city’s appeal as a logistics hub and attract more businesses to the area. The Metropolitan City of Venice fully supports this initiative and is confident that it will bring significant benefits to the local economy.
Mr. Di Blasio, you mentioned that the Port Authority hoped to receive public funds for this project. Why was it necessary to secure an unsecured loan from CDP if public funding was available?
Fulvio Lino Di Blasio:
