Estonia, Good for Business, Investments, Port, Transport
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Thursday, 28.03.2024, 11:55
EUR 1.5 mln warehouse complex opened at Tallinn Bekker Port
According to Tallinn Bekker Port OU board member Endel Siff the warehousing complex cost 1.5 million euros to build. The confidence for the investment came from expanded cooperation with the Estonian forestry and energy group Graanul Invest, the port company said.
As forward-looking investments, the port has started preparation for renovating wharves and dredging the basin to ensure the capability to serve handy-size ships with a deadweight of 30,000 tons, Siff said.
"Against the backdrop of a general downtrend in the whole Estonian port business, we succeeded in increasing our freight volumes by 45% to nearly one million tons and investing two million euros in developing the port," Siff said. "As we both own and operate the port, we're more flexible than our competitors and we're able to offer the best business conditions to our customers."
Tallinn Bekker Port posted revenues of 3.9 million euros and a profit of 575,000 euros for the past year. The company gives work to 40 people.