The Lithuanian port of Klaipeda this year plans to invest an unimpressive EUR 23.4 million in development as it will prepare for large investment projects that are to get underway in 2017.
“The size of investments is not very big and not impressive, but under our investment strategy, all serious work this year is preparatory work for the next leap in 2017, when a number of very serious and responsible projects should start and investment amounts will change,” the port’s CEO Arvydas Vaitkus said.
According to Vaitkus, this year’s plans include continuing quay upgrading, navigation channel deepening and infrastructure projects, as well as launching new development projects. The state seaport authority this year plans to invest EUR 17.5 million of its own funds and around EUR 6 million in EU aid.
Martynas Armonaitis, the port’s CFO, said that the port was planning to invest around EUR 407 million in total by 2024.
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