Marina developers along the Costa Blanca are gearing up for the 2007 America's Cup in Valencia, as investment money begins to floods in.

Valencia mayoress Rita Barbera and regional President Francisco Camps have requested an investment of 600 million euros from the European Union Region's Committee to restore the maritime district of the Port of Valencia in time for the event.

The grants would also be used to improve access to the future Balcon al Mar, the area of the shoreline that will form a focal point for visitors to the international sailing competition.

Public investment in Valencia is expected to be 1.9 billion euros, with external investment bringing the total to three billion euros. The event is also expected to provide 10,000 new jobs.

The provincial government has also presented a proposal to make several of the Costa Blanca's harbours secondary venues for the competition.

Harbours from Denia to Villajoyosa have extremely good chances of becoming venues due to their proximity to Valencia, although Alicante, Campello and Santa Pola have also been suggested.

Valencia Port will host the competing yachts, but hundreds of auxiliary vessels will require moorings along the Costa.