Regional Government invests in port authority

APRAM to receive €16.6 million

The Diario reports that the Regional Government will inject €16.6 million into their own company, Portos da Madeira (APRAM). This is according to a resolution published yesterday in the Region’s Official Gazette. The Madeiran executive owns 100% of APRAM’s share capital, and under the Commercial Companies Code, which allows any investor to make loans to the company where they are a shareholder, they have decided to inject that amount. It is not clear if the investment is linked to any particular project.
The Regional Government further claims that “this company was reclassified for the purposes of national accounts, integrating the perimeter of the Regional Public Administration”, (whatever that means?) and therefore the capital injection is justified. The total capital of APRAM currently amounts to €103.5 million.

2 thoughts on “Regional Government invests in port authority”

  1. Funds to extend the molhe? Maybe cut harbour fees to make the place more attractive to cruise ships? There are far fewer ships in over the summer months this year – only 6 visitors through June to August.

  2. How can one not know the purpose of the funds allocated by the state and for a state owned entity. it must be accountable to parliament and detailed in some application for or allocation of some sort.

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