EIB finances Port of Ystad refurbishment
The European Investment Bank has signed a SEK445 million (€41.75 million) loan agreement to help finance the refurbishment of Port of Ystad in Sweden. The consortium partners in the project - Cargo capacity upgrade and LNG bunkering Swinoujscie-Ystad Maritime Link - are Ystad Municipality, Gaz System with subsidiary Polskie LNG and Polferries.
The financing will be used to expand the to accommodate new, more environmentally friendly, LNG vessels of over 240 meters in length, which will start operating next year. Two grant projects for the expansion of Ystad harbour have been approved by the EU, totalling €132 million ($142.6 million), with 25% of the funding, about €34.8 million, being provided by the EU.
Work includes the construction of two new, deeper, ferry berths at a new pier located in the outer port basin, with associated facilities in reclaimed areas located to the east of the new berths. It also consists of dredging works in the existing outer basin of the port, the construction of a new breakwater south of the existing eastern breakwater, with a new reclaimed platform for future port activities expansion and the extension of the breakwater at the western part of the port.
The project is expected to improve the climate performance of the port by improving on-shore power supply for berthed vessels, and reduce emissions by manoeuvring vessels due to easier berthing.
