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Klaipeda port CEO puts cost of building outer port at around EUR 800 mln

BC, Vilnius, 17.11.2017.Print version
The chief executive officer of the Lithuanian seaport of Klaipeda says that building an outer port may cost an estimated 800 million euros, adding that the port's authority would prefer it to be a concession project and that the bulk of the new capacity would be used for handling containers, reports LETA/BNS.

"Around 800 million euros would be needed for the development of an outer port, based on our preliminary estimates," Arvydas Vaitkus said in a news conference on November 16th.

 

According to the CEO, the port's authority is currently considering possible models for the development of an outer port.

 

"Today we are looking into two legal options: the existing land lease model and a concession. For us, a concession seems to be a better option, because it is a formula under which the future operator invests its own capital. We believe that when an investor has made their own investment, they will be more interested in making their investment pay off," he said.

 

Vaitkus said that the planned outer port would mostly handle containers, adding that existing stevedoring companies are unlikely to face increased competition from the future port operator.

 

Plans call for building an outer port in Klaipeda by 2025, with the project expected to increase cargo traffic via Klaipeda by 35 million tons.

 

The Lithuania port handled 40 million tons of cargo last year and projects 41 million tons for the full year 2017.






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