Swedish ferry port gets finance for upgrades

2020-02-28T20:26:34+00:00 February 28th, 2020|Finance|

The European Investment Bank (EIB) has signed a SEK445 mill loan agreement with the Swedish Municipality of Ystad.

Ystad acts as a busy connection point to the Polish Port of Swinoujscie and the Danish island of Bornholm.

The financing will be used to expand the quays to accommodate new, more environmentally friendly, LNG vessels of over 240 m in length, which will start operating next year.

Aimed at increasing the capacity and upgrading Ystad’s facilities in order to accommodate larger ro-pax vessels, work includes the construction of two new, deeper ferry berths at a new pier located in the outer port basin, with associated facilities located on reclaimed areas located to the east of the new berths.

Dredging will also be carried out in the existing outer basin of the port, plus 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 also expected to improve the climate performance of the port. Measures undertaken for this include the improvement of onshore power supply for berthed vessels, and a reduction of emissions by manoeuvring vessels, due to easier berthing.

“Ystad is a key connection point for tourism and transport in Sweden,” explained EIB Vice President, Thomas Östros. “As the climate bank of the EU, the EIB wants to provide finance to projects that seek to reduce the environmental impact of their operations, while keeping business going and stimulating sustainable growth and job creation. This project is spot on in all of those senses.”

”With this investment, Port of Ystad will soon be well prepared to further consolidate its position as the third largest ferry passenger port in Sweden,” Björn Boström, CEO of Port of Ystad, added. “Now, in an even more environmentally friendly way.”