The concession renewal for Terminal Intermodale Venezia (TIV) has been unanimously approved by the management committee of the Port System Authority of the Northern Adriatic Sea. TIV, a privately owned container terminal operating in the commercial port of Marghera within the Port of Venice is jointly owned by Mariner and Marinvest, an MSC subsidiary. The duration of the concession is for an additional 25 years starting from 2025 till 2050. The Company has submitted an investment programme as part of the renewal process which confirms its commitment to developing and improving port activity as it has continuously done in the past. The investment plan, valued at over €110 million for the 25-year period, will be aimed at continuous improvement of the overall facility, including infrastructure, cargo handling equipment, information technology and automation. A vital aspect of the investment programme is to increase environmental sustainability, through the reduction of emissions and improved energy consumption achieved with modern equipment and increased efficiency.