Valenciaport pays 3.6 million in two weeks and provides liquidity to supplier companies

For two weeks, the Port Authority of Valencia (PAV) has accelerated the accounting and bill payment procedures to shorten the period of payment to suppliers, thus helping to mitigate the negative effects of the pandemic caused by COVID-19.

Valencia, April the 9th, 2020.– The Port Authority of Valencia (PAV) has paid in the last 2 weeks 3.6 million euros to a total of 250 supplier companies, in order to facilitate liquidity among the companies that carry out work for the ports of Gandia, Sagunto and Valencia, and thus contribute to mitigate as far as possible to decrease the economic effects that the COVID-19 pandemic is causing.

On March 19, the PAV announced that due to the current circumstances in relation to the pandemic caused by the COVID-19, and following the contagion prevention measures recommended by the Health Authorities, the Port Authority of Valencia (PAV) had established the internal mechanisms necessary to process invoices as quickly as possible.

The objective is to make weekly payments until the state of alarm ends in order to minimize the treasury difficulties that may be experienced by providers or service providers of the Port Authority.9

This measure was effective two weeks ago and to date payments of € 3.6 million have already been made.