Nordic Investment Bank (NIB) and the Municipality of Ystad in southern Sweden have inked a 25-year loan agreement worth EUR 48 million to finance the expansion of the city port.
The expansion project will allow the port to take advantage of growing traffic volumes along the Ystad – Swinoujscie route and to handle larger vessels as well as more cargo.
The port will expand southwards and make it possible for larger ferries to traverse the outer basin, according to the NIB’s latest release.
Under the agreement, two new berths will be constructed and the breakwater on the south side is set to be expanded. The inner port area will be used for passenger traffic after the expansion is completed in 2021.
“The new port infrastructure will remove bottlenecks and accommodate an increase in cargo and tourism over the next decade. Given growing trade economic interaction and tourism, shipping and port operations are crucial for the Baltic Sea in promoting interconnection and revenue opportunities,” said Henrik Normann, NIB President & CEO.
The Port of Ystad is one of the largest ferry and shipping points in Southern Sweden, and a connection hub to Bornholm, Poland and Central Europe.