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EIB signs loan agreement to support upgrade of Swedish port

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LNG Industry,

The European Investment Bank (EIB) has announced that it has signed a SEK445 million (€41.75 million) loan agreement with the Municipality of Ystad, Sweden.

The Swedish town’s port is an important connection point to the Polish Port of Swinoujscie and the Danish island of Bornholm. According to the EIB, the financing will be used to expand the quays to accommodate new LNG vessels, which will commence operations next year. These vessels will measure over 240 m in length.

The project plans to increase the capacity and upgrade the Port of Ystad facilities in order to accommodate larger ro-pax vessels. It will include 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. In addition to this, the project will also include: dredging works in the existing outer basin of the port; the construction of a new breakwater south of the existing eastern breakwater; a new reclaimed platform for future port activities expansion; and the extension of the breakwater at the western part of the port.

According to the statement, the project will significantly improve the climate performance of the port. Measures to ensure this include the improvement of an onshore power supply for berthed vessels, and a decrease in emissions by manoeuvring vessels due to easier berthing.

EIB Vice President, Thomas Östros, said: “Ystad is a key connection point for tourism and transport in Sweden.

“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.”

Björn Boström, CEO of Port of Ystad, added: “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.

“Now, in an even more environmentally friendly way.”

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