Lithuania: Klaipeda Port Unveils Capital Dredging Plan

The summarised activity results of the Ist half of 2013 demonstrated that investments of Port Authority to the port development constituted 233,612 million litas – this sum is not only a record sum comparing with other half year periods of the previous years, but also exceeds annual investment rates.

Up till now only the year of 2008 marked the largest amount of YEAR investments that constituted 166 million litas.

The Port Authority plans to invest 467 million litas (excluding VAT) within the period of 2013–2015. Private companies operating in the Port allocate annually more that twice larger sums for the Port development. Their contribution to the Port development, direct relations with cargo owners and consignors in line with competitive tariffs of cargo handling works guarantee the synergetic and efficient Port development process.

The income of Port Authority received from the port dues and port land lease constitute over 160 million litas per year. The total earned profit as well as loans received from EU support funds and banks constitute the overall share of State financing that is allocated to the development of Port infrastructure, construction of access roads and railways, capital dredging of Port waters‘ territory, implementation of Port security and safety tools and measures, development of the activity of Port Authority.

The Port is constantly making investments into the welfare of the town and its inhabitants allocating annually 5-8 million litas for construction and reconstruction of Klaipėda roads and financing of social projects.

„It is also worth to accentuate that the Port Authority is to carefully consider and evaluate the selected measures while making diverse investments as their purpose is to increase of the efficiency of the activity, to assure the largest benefit to State economics, society and Port Authority and create the conditions for successful activity and development of transport business sector, i.e. for the development of business that should both create new work places and, via the paid taxes, should return to full extent the finances invested by the State. Pursuant to the data submitted by „Ernst & Young“ 1 ton of cargo handled via the Seaport of Klaipėda in 2011 ensured 11,23 litas income to the State budget. On assessing the cargo handling results in 2011 it is possible to say that due to the infrastructure objects constructed by Port Authority and respectively to the increased cargo handling turnover the State budget received 411 million litas via diverse taxes“, said the director general Arvydas Vaitkus.

[mappress]

Press Release, August 9, 2013