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The European Court of Auditors (ECA) is considering a move to investigate the issue of €8.3bn ($10.7bn)  in loans from the European Investment Bank (EIB) for port projects, Luc T’Joen, the ECA Principal Auditor for Transport and Energy said on Friday.

The European Commission (EC) is just days away from releasing its consultative paper on a new ports package, the EC’s Vice-President Siim Kallas said on Friday.

APM Terminals Pipavav (Gujarat Pipavav Port Limited) will be raising Rs3.5 billion ($65M) by way of fresh equity which will be a combination of preferential allotment to promoters and institutional investors, GPPL said on Thursday in a filing to the stock exchange.

The recent European Court of Auditors (ECA) report -which revealed a flagrant misuse of EU public port finance- underlines the urgent need for a transparent methodology  for EU transport funds to ensure objectives are met today urged Victor Schoenmakers, Chairman of ESPO, the European Sea Ports Organisation.

The investment plans of ITCSI subsidiary, Baltic Container Terminal (BCT)  at Gdynia, Poland have been secured with ITCSI's  signing of a $26.5m credit facility agreement with Polish bank Bank Pekao, ITCSI said on Thursday.

Rotterdam, Europe's biggest port, has secured the final part- €250m ($324m)- of a €900m loan from the European Investment Bank (EIB) with the EU bank funding the expansion of the port area by 20%.

HPH Trust, which is listed in the Singapore stock exchange, has reported revenue of HK$2.8 billion (US$360M) for Q1 2012 ending 31 March. This was slightly less than the projected amount of HK$3.01 billion.

Western Australia has moved to take control of land required to build the Anketell deep water port and industrial precinct the state government said on Wednesday.

An alleged group of Chinese, Canadian and Panamanian investors have been authorised to launch a tender for the construction and management of a new container terminal, at the entrance of the Panama Canal, a US company adivising the group said on Tuesday.

 Dutch construction company, Archirodon has won a OMR 55m ($143m) bid to double general cargo capacity at Salalah port in Oman, a source at the company said on Friday.


Port Finance International provides online news and conferences worldwide. It is a platform and a community for senior industry experts and players to review and discuss the market. Our online news team provides daily coverage of international port finance, investment and operations news. A weekly e-newsletter- sent to readers free of charge - covers the key news and views of the week.

Port Finance International's conferences and training programmes are held across the globe. These events feature key industry figures and they address market challenges and trends as well as providing industry players with essential networking opportunities.

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