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The Western Ligurian Sea Port Authority formalized two new concessions in the Port of Genoa, covering the state maritime property where Amico & Co operates and the Punta Vagno areas in Foce approved by the Genoa City Council. These two long-term measures provide legal certainty for investment planning and support, in their respective areas, the development of industrial activities and public interventions.
The new state concession granted to Amico & Co SpA, valid until December 31, 2060, consolidates into a single concession the areas where the company operates in the industrial port of Genoa. Until now, these areas were governed by two separate concessions valid until December 31, 2029, and December 19, 2039, respectively.
The new concession concludes the preliminary investigation process initiated following the company's requests starting in 2020 and takes into account the planned investment program for the property: approximately USD 69 million in investments already made and another USD 38 million planned.
The total financial commitment amounts to approximately USD 107 million, mainly allocated to infrastructure projects that will remain state property.
The concession had already been approved by the Management Committee of the Port System Authority, following an evaluation of the company's investment and development trajectory within the broader industrial and naval activities of the Port of Genoa.
With the second resolution, the Port System Authority granted the city of Genoa a new maritime concession for the Punta Vagno complex, at the river mouth, valid until December 31, 2055. This concession provides continuity to the previous one, which expires at the end of 2026, and consolidates the various functions and planned interventions in the area into a single framework.
The complex will continue to primarily house the city's biological wastewater treatment plant, along with auxiliary works, pipelines, and covered areas intended for public gardens.
The new contract also allows for the waterproofing of the treatment plant's roof and the redevelopment of the upper gardens, as well as the planned renovation of the treatment plant, which will require an investment of approximately USD 55 million.
The projects contemplated in the concession also include the construction of a new skate park, designed by the Korean artist Koo Jeong A and to be donated to the city by the Friends of Genoa Foundation, with an investment indicated in the deed of approximately USD 880 thousand.
The concession further expands the possible uses of the areas, including restaurant services, musical performances, open-air theater and cinema, exhibitions and cultural events, as well as the management of sports facilities.
In this way, the new permit is integrated into a program that combines the infrastructural and environmental functions of the wastewater treatment plant, the redevelopment of the areas, and the public use of the overlying surfaces, allowing the municipality to plan long-term interventions.
"With these two acts, the Port System Authority continues its work aimed at providing certainty for investment planning and supporting, within its scope of competence, each phase of the development of the port and state areas," declared Matteo Paroli, President of the Western Ligurian Sea Port Authority.
"The new concession to Amico & Co consolidates a highly specialized industrial activity in the long term, which has made significant investments in the Port of Genoa and operates in a high value-added and highly competitive sector in international markets. This is a path that can continue through new investments, which will be evaluated according to port planning guidelines. Likewise, the Punta Vagno concession allows the Municipality to plan interventions that combine environmental functions, redevelopment, and public use. In both cases, the Authority's task is to create the conditions for private and public investments to be planned and implemented within a defined framework consistent with the development of the port and its surrounding area," concluded Paroli.
