Klaipeda Port Authority Announces Big Expansion Plans (Lithuania)

The Port Authority has planned to allot 328.0 million Lt excluding VAT for the investments in 2013.

Properly balanced State and private financing creates conditions to reconstruct and construct new infrastructure objects, terminals and warehouses in the Port, to install the most advanced technologies, to enhance the qualification quality of staff, to expand the range of provided services and to ensure the highest quality of these services.

The guarantee of Port success is a streamlined financing system ensuring the Port development. The Port Authority guarantees the State financing. The investment financing resources of the Seaport Authority is the received income comprising the Port dues, land lease fees, the loans from EU assistance funds and banks. This financing is allocated to develop the Port infrastructure, access roads and railway tracks, to dredge the Port waters, to install the most sophisticated information systems and technologies, to expand the Port.

A certain share of funds is also allocated for construction and reconstruction of Klaipėda town roads.

The planned sum of investments for 2013 reaching up to 328.0 million Lt excluding VAT shall be allocated as follows:

– 84.2 million Lt. for construction and reconstruction of quays,

– 81.5 million Lt. for capital dredging works,

– 23.0 million Lt. for construction and repair of railway tracks,

– 82.8 million Lt. for construction of infrastructure of LNG terminal and capital dredging works of the Port waters,

– 39.0 million Lt. for other infrastructure development projects,

– 17.5 million Lt. for the other projects.

The Port Authority is planning to receive 166.8 million Lt. of incomes, 93.9 million Lt. of EU assistance and to borrow 146 million Lt.

[mappress]

Press Release, January 25, 2013