Capital Investments in Port Infrastructure
- Business & Finance
The Commission’s record €13.1 billion investment plan for the transport sector is coming closer to reality, after EU Member States approved the list of projects to receive funding under the Connecting Europe Facility (CEF).
Out of the 276 selected, a number of projects will serve the Baltic ports. Whole process of application and evaluation has been coordinated by Brussels based Innovation and Network Executive Agency (INEA).
Bogdan Oldakowski, Baltic Ports Organization (BPO) Secretary General, said: “I am pleased that many Baltic ports are included as beneficiaries in the selected projects. 22 Baltic core ports will invest in future port infrastructure and with CEF instrument it is easier for those ports to secure financing of future port infrastructure.”
BPO will discuss opportunities for ports during the Baltic Ports Conference 2015 in Riga, 2-4 September.
“It is worth to remember that there are several smaller ports in the Baltic (e.g. those having comprehensive status) with its own investment needs – there are also vital for providing efficient and environmental friendly maritime transport in the Baltic.”
By the end of July 2015, the Commission will formally adopt the funding decision. Individual project grant agreements will be prepared by INEA and signed with the project beneficiaries thereafter. Funds will start being disbursed as of the last quarter of 2015.