PORTO VECCHIO OF TRIEST November 25th saw the execution of the - TopicsExpress

PORTO VECCHIO OF TRIEST November 25th saw the execution of the 70-year concession agreement between the Triest Port Authority and Portocitta’ Srl (a special purpose investment vehicle controlled by Rizzani de Eccher, Gruppo Maltauro, Banca Intesa and Sinloc) in respect of the recovery and restoration of the waterfront area of Triest’s old harbour (Porto Vecchio). The project, which requires investments in excess of EUR 800 million, covers an area of 45ha and includes the construction of two marinas with over 400 berths, the restoration of the monumental warehouses and the construction of new buildings for offices, commercial activities, and accommodation facilities totalling 1 million cubic metres in volumes. It will be equivalent to building a new district for Triest, designed to host tourist and business infrastructure, linking the Barcola waterfront with Le Rive area. The project, for which an international architecture context is to be launched, constitutes one of the most significant examples in Europe of the restoration of disused seaport areas located near the historical centres of a city.

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