Lithuanian Parliament Approves Southern Klaipėda Seaport Expansion

The Lithuanian parliament has greenlit the development of the southern section of the Klaipėda Seaport, a strategic project expected to significantly boost national security and economic growth. The government's proposal received unanimous support, with 90 parliamentarians voting in favor and none against.

The expanded southern territory is designated for cargo handling, logistics, industry, and green energy activities, alongside accommodating military mobility needs. Key infrastructure developments include approximately 1.3 kilometers of new deep-water quays and the establishment of a southern port entrance. Additionally, a southern marina will be constructed to support small vessel traffic and maritime tourism, offering berths for around 500 boats.

A crucial aspect of the project is its investment mechanism, designed to attract private capital early in the development phase. Investors will contribute to the creation of new land within the port territory and the development of its infrastructure through an initial deposit. The total estimated investment for forming the new territory and building the infrastructure is around 600 million euros. Of this amount, at least 300 million euros are expected to come from private investors, with the remainder financed by the port authority's own funds, borrowed capital, and other sources.

The project also encompasses vital infrastructure for the city of Klaipėda itself, including the southern bypass. The Ministry of Transport anticipates the new southern port section will be capable of handling up to 30 million tons of cargo annually. Over 25 years, the project's economic benefit is projected to reach approximately 7 billion euros, with long-term port revenues estimated at 1.2 billion euros over a 50-year period. The new land and infrastructure are slated for completion by the end of 2028, with operations potentially beginning in 2029.