NIB, Klaipeda Authority Agree EUR44mn Loan


News: A loan agreement worth EUR44mn (US$57.2mn) has been signed between the Nordic Investment Bank (NIB) and the Klaipeda State Seaport Authority to carry out investment projects at the Lithuanian facility. The funding will be used for the reconstruction of quays, building of a pier for passenger and cargo ferries as well as dredging and boarding the port's navigation channel. This would result in increasing the port's cargo volume, storage and stevedore operations. The investment is also likely to raise the port's annual capacity between 12mn and 13mn tonnes. NIB president and CEO Henrik Normann has said that this financial support would enhance the country's competitiveness in trade logistics and would promote the capacity of transportation services in the region.

This article is tagged to:
Sector: Freight Transport, Shipping
Geography: Lithuania