According to local newspaper Nice-Matin, negotiations have been underway for several months, up until an agreement was signed on Tuesday, 6th December.

The agreement was reached between the Cozzi Parodi Group and the Société Monégasque Internationale Portuaire (SMIP), a subsidiary of the Société d’Exploitation des Ports De Monaco, for the acquisition of all shares in Cala del Forte, holder of the concession of Marina Ventimiglia.

With this acquisition, the Principality intends to decongest its two ports that are regularly full. Despite the substantial development and expansion of Port Hercule less than 15 years ago, Monaco’s Port Hercule and Fontvieille Marina are often considered to be saturated.

The objective is for Monegasque teams to resume work started on the Cala del Forte Marina site that was never finished in January 2017, with the aim to complete works in the summer of 2018.

The site was originally a jetty in the 1960s, positioned at the western end of the Passegiata Marconi in Ventimiglia, but it was recognised as an investment opportunity and in 2008 the construction of the Cala del Forte Marina commenced. The project, however, was reported to have faced problems in 2010, which resulted in the termination of all development by 2013.

Nice-Matin reports that the new marina is expected to start hosting yachts from 2019, with 171 berths from 6m to 60m, 400 parking spaces, a shipyard and 3800m2 of premises for commercial use.

With the Principality less than 20km away and approximately 30 minutes by road, Ventimiglia is the first step to finding a solution to the berthing shortage of one of the most popular superyacht cruising destinations.