97.5 million euros is being invested in Balearic ports over the next 4 years according to the Minister of Transport, Marc Pons.
27 million euros of the money will be spent on maintenance and the rest will pay for accessibility improvements, the introduction of renewable energy, replacing old buoys in the ports and adding extra ones in order to protect the posidonia meadows.
10 projects will be carried out in Minorca, 7 in Ibiza and 34 in Majorca, where 5.9 million euros of the cash is earmarked for dock renovations in the port of Cala Rajada, 2 million to pave the port in Porto Cristo and another 2 million euros for restoration work in Portocolom.
Minister Pons also said he’s confident that the 50 million euros worth of debt racked up by Ports IB will be reduced to 18 million by the end of this year and that the company will be back in the black by 2023.