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Tayrona Capital Financial Group’s Invest can revive Green Bay’s Port

Tayrona Capital Financial Group’s investment fund purchase list for Ospedaletti, which suddenly emerged last month, along with large bids for the Byblos compendium, Pian d’Asché embankment, and Piccadilly, is growing. In the crosshairs of the Monaco-based financial group is the Green Bay (Baia Verde) harbour, which is the big unfinished business everyone’s talking about.

Tayrona Capital Financial Group, whose client portfolio is worth hundreds of millions of euros, has recently signed a draft agreement. In addition, a group of French entrepreneurs are negotiating a concession for the unfinished tourist landing. These entrepreneurs are partners of Societe Financiere Port Ospedaletti, which operates under Nuovo Porto di Ospedaletti Srl in Italy. Their offices are located in San Remo, in the office of accountant Giancarlo Ghinamo, who Taggia lawyer Gabriele Cascino represents.

According to recent updates, Mayor Daniele Cimiotti’s council is evaluating the project, and the mayor has made multiple requests for a bank guarantee. However, as of now, no such guarantee has been provided.

Tayrona Capital and Nuovo Porto di Ospedaletti Srl may have a complementary relationship. On the one hand, capital is essential to initiate the construction process from scratch, while on the other hand, an initiative-driven spirit is crucial to ensure that the project is executed successfully. Additionally, the architect responsible for the project is an equally important aspect to consider, that being Marco Filippo Alborno, known for his works at the Port of Cala del Forte in Ventimiglia, the Marina di San Lorenzo, and the Bordighera Marina in Imperia.

As a result of this collaboration, Ospedaletti may mark a turning point that has been awaited since 2013. This comes after the Council of State annulled all authorisation acts related to the project with an unappealable ruling. Mayor Cimiotti, who holds this belief, is constantly communicating with his offices to ensure that the integrations requested by the proponents are being met. Cimiotti envisions that Ospedaletti will follow the path of the Società Fondiaria Lionese, which, in the late 1800s, transformed the town of roses into a top-notch tourist destination. They achieved this by building the first casino in Italy, large hotels, a boulevard, and leaving public gardens and the former nursery, which now houses schools, to the community.

The mayor remains cautious despite high hopes, given the past incidents that have caused damage to the port. The local authority could consider a public-initiative project financing route if private investment fails to materialise. Under this approach, the local authority would prepare the initial project and then invite bids from interested parties to execute it. Tayrona Capital has expressed a serious interest in the project, although there is still uncertainty regarding the French venture.

In addition to the purchase proposals that have already been sent and which have caused the municipal administration to modify the plan to put Byblos and Piccadilly back up for sale, there has been recent news that the Monegasque group, partner of Tayrona Capital, has acquired the former Area24 land located upstream of the Byblos complex as well as other private plots on the perimeter of the Baia Verde construction site.

Publication date: September 2022

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