Lithuania: NIB Finances Klaipeda Port Dredging

NIB and the Klaipeda State Seaport Authority have signed a EUR 44 million loan agreement for investment projects in Klaipeda Seaport, lifting a major bottleneck to trade and expansion in the region.

The scope of the investment includes the reconstruction of quays, construction of a pier for passenger and cargo ferries as well as dredging and widening of the port’s navigation channel, leading to an increase in cargo volume, storage and stevedore operations. Overall, it is expected that the investments will result in an annual capacity increase of 12–13 million tonnes, or about 25%.

Additionally, the dredging and widening of the navigation channel will be performed with the purpose of improving safety for vessels arriving to and departing from Klaipeda port waters. The risk of an adverse environmental impact on the adjacent Curonian Lagoon has been established to be low.

Modern, well-functioning infrastructure in Klaipeda Seaport is of strategic importance for Lithuania’s economy. This investment will boost the country’s competitiveness in trade logistics and promote the capacity of transportation services in the region,” says Henrik Normann, NIB President & CEO.

The Port of Klaipeda is one of the major harbours in the Eastern part of the Baltic Sea. Established in 1991, the Klaipeda State Seaport Authority administers the port and is responsible for the maintenance, reconstruction and modernisation of the port infrastructure.

The Nordic Investment Bank (NIB) is the common international financial institution of the eight Nordic and Baltic countries. NIB provides long-term financing for projects that strengthen competitiveness and enhance the environment. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

Press Release, March 12, 2013

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3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

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