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International Internet Magazine. Baltic States news & analytics Friday, 18.09.2020, 16:22

Lithuanian cabinet approves Klaipeda port's general development plan

BC, Vilnius, 11.12.2019.Print version
The Lithuanian Cabinet approved on Wednesday a general development plan for the seaport of Klaipeda, reported LETA/BNS.

The plan sets out strategic directions for the port's development in the next 25 years, and specific solutions for the next 15 years that will help it remain competitive, respond promptly to changing market conditions and build the necessary infrastructure, the government said.

Transport Minister Jaroslav Narkevic told the Cabinet that the plan was necessary for the port to expand and compete with neighboring ports, which would have caused "significant losses for the railways and other infrastructure".  

With the approval of the plan, the port will be able to develop its southern part, deepen its navigation channel to 17 meters and, if needed, expand northwards.  

Once implemented, the plan's solutions will enable the port's existing and potential users to carry out various investment projects and develop their operations, creating new jobs and generating additional state budget revenue, it said. 

Total investments in the port's development projects are estimated to be around 635.4 mln euros in the short-term and 1.2 bn euros in the long-term. 

In the absence of a general plan, ten port development projects, worth an estimated 152.4 mln euros in total, have been suspended, according to the Transport Ministry. 

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