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Tallink Grupp receives funding for LNG-powered ferry

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The Port of Helsinki, the Port of Tallinn and AS Tallink Grupp have received €29.3 million EU funding within the 2014 CEF Transport Multi-Annual Calls for proposals for financing their infrastructure investments. The total cost of the planned investments is €97.6 million. 

The CEF (Connecting Europe Facility) programme is a continuation of TEN-T, where the initial TWIN-PORT project was started. The follow-up project is called TWIN-PORT II. The development of the Helsinki-Tallinn maritime link as part of the TEN-T North Sea- Baltic core corridor has a vital importance as it connects the northern parts of Europe with southern TEN-T corridors. 

The Port of Helsinki will receive €19.2 million to develop traffic and port facilities related to Helsinki-Tallinn line traffic, while the Port of Tallinn will receive €5.3 million  to develop several activities in the Old City Harbour. AS Tallink Grupp will receive €4.8 million to be allocated to the new LNG-powered ferry, which will serve the Helsinki-Tallinn line starting from 2017. The ship will cost €230 million and the investment under TWIN-PORT II is €16 million.

Janek Stalmeister, Chairman of the Management Board, AS Tallink Grupp, said: “The new LNG-powered fast ferry will bring swift environment friendly operations to the busy Tallinn-Helsinki route. We are happy to see a successful collaboration between public and private companies that is supported by the European Union.”


Edited from press release by

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/13072015/tallink-grupp-receives-funding-for-lng-powered-ferry-1020/


 

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