Venice Airport receives €150 million from EIB to finance expansion
With a €150 million loan, the European Investment Bank (EIB) supports the development of the Venice Airport, the third busiest international gateway in Italy by number of passengers. EIB Vice-President, Dario Scannapieco and the President and CEO of Venice Airport’s operator SAVE, Enrico Marchi, signed the financing in Venice. Alessio Quaranta, General Manager of ENAC, the Italian civil aviation authority that approved the airport masterplan, also attended the signing ceremony.
The EIB financing is backed by the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe, or Juncker Plan.
Venice’s airport Marco Polo, which will reach 11 million passengers this year, has an increasing international footprint: 87% of passengers flew between Venice and European or intercontinental destinations (as opposed to the Italian airport system average of 64%).
Following the implementation of the investments included in the masterplan, Venice Airport will be able to sustain increased volumes of up to 16 million passengers by 2025. It is estimated that the project financed by the EIB will generate approximately 2,700 jobs during the construction phase, while following completion approximately 500 additional new jobs connected with the airport’s operation will be created. The project will also contribute to the European Safety Initiative (ESI) complying with the new standards of the Commission Regulation on implementation of the common basic standards on aviation security.
The EIB financing will contribute to almost one third of the total investment cost relating to terminal upgrade and extension, runway’s renewal and upgrade, construction of additional taxiway and aircraft parking facilities.
Dario Scannapieco, EIB Vice-President, said. “Veneto is an outward looking region characterized by a strong tourist vocation and a dynamic entrepreneurial population. Investing in its main airport infrastructure means that we invest in the region’s future: people’s mobility and smooth circulation of goods are a precondition for further economic and social development.”
Enrico Marchi, President of SAVE, added: “The financing provided by the EIB to the modernisation of the Venice Marco Polo airport represents an important recognition of its role as a landmark infrastructure for the mobility and economic-social development of the Veneto region. We are delighted to have such an important financial institution supporting us.”
European Commissioner for Transport Violeta Bulc said: “With this new project the Juncker Plan establishes itself further as a major supporter of strategic transport infrastructure in Europe. The expansion of the Venice Marco Polo airport will boost regional development and create jobs for the local community; I’m very glad that the EU can be a part of it.”