The Chamber of Faro will consult the bank to resort to a loan of 16 million euros with the aim of proceeding with four «structuring» works for the municipality.
If successful, this funding will allow the Chamber to carry out the «requalification of the Central Axis of Baixa de Faro (estimated at 3.300.000 euros), the extension of the port infrastructure at Porta Nova (estimated at 8.500.000 euros), the construction of the roundabout at Pontes de Marchil (estimated at 2.400.000 euros) and the construction of the Ecovia do Litoral at connection Faro – Olhão (estimated at 2.220.000 euros)».
A substantial part of this investment will be channeled to downtown Faro, «with the contract for requalification of the Central Axis, which will intervene in the entire urban area between the train station and Largo de São Francisco», says the City Council Faro.
Alongside this project, which forms part of a strategy designed to promote the county's sustainable development, namely to revitalize the waterfront and the urban spaces that form part of it, there will be a requalification and extension of the infrastructure of the Porta Nova wharf, which a pedestrian area between the future recreational port (outside the current dock) and Largo de São Francisco.
«This funding is also aimed at improving the fluidity of the county’s road communication routes, namely at the main entrance of the
city, with the execution of a new roundabout in the area of Pontes de Marchil, which will allow a direct connection from the city to Montenegro and to the 3rd Ring Road», the municipality also explains.
At the same time, the Municipality also intends to take another step towards sustainable urban mobility, through the creation of the link Faro – Olhão from Ecovia do Litoral.
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