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Klaipėda Port remains an important centre-line of the national economics

2020 01 21
Klaipėda Port remains an important centre-line of the national economics

The financial indexes of last year of SE Klaipėda State Seaport Authority and scopes of the implemented investments manifest even bigger benefit generated for the national economics. The Lithuanian transport sector creates approx. 14 percent of the Lithuanian GDP, and significant part of this GDP is generated by Klaipėda Port and related activities.

Last year was exceptional for Klaipėda Seaport according to the implemented investments. 80,8 million euros were invested into the port’s infrastructure in 2019 – twice as much as in 2018 and even three times more than in 2017. It has been calculated that one euro invested by the State into the port’s infrastructure induces double business investments.

"The Seaport Authority is responsible for expansion of the port’s infrastructure, so our main investments are directed to the port’s improvement – ship-canal, embankments, breakwaters, access roads and railways. In order to be able to receive the largest vessels that may enter the Baltic Sea, we have to safeguard appropriate navigation conditions, to reach maximum depths in the ship-canal and by the embankments, and to make sure that the vessels could be loaded maximally. This is the only way to stay competitive in the market," – said Vidmantas Paukštė, Director of Infrastructure of the Seaport Authority, Managing Director at interim.

According to preliminary, not audited results, total income of SE Klaipėda State Seaport Authority last year reached 64,1 million euros – it is bigger by approximately one third of million euros than in 2018.

"The more effectively the seaport is working, the bigger benefit is generated to the State. Klaipėda Seaport Authority contributes significantly to the State budget every year. Such good financial results make it evident that the input of the Seaport Authority to the budget will be significant this year, as well. Although due to global reasons, loading volumes were not growing so rapidly in 2019 anymore, but financial indexes of the port are improving. The State Enterprise is working effectively,” – said Mr. Jaroslavas Narkevičius, Minister of Transport and Communications.

The major part of income consists of fees paid by vessel owners for use of the port – 56,3 million euros, i.e. almost 75 thousand euros more than in 2018. Income from the land’s rent was 7,53 million euros last year – 161 thousand euros more than in the year before last. Income of the Seaport Authority was growing for six successive years and was the biggest in 2019 in its all history.

According to preliminary, not audited data, the State Enterprise earned approx. 34 million euros in 2019 (before profit tax) – similarly to the year 2018.

Port Authority does not receive any budgetary allocations

Port Authority uses its revenue for implementation of investment  projects, sometimes some projects  are co- financed partially by EU structural funds. The State does not allot any subsidies from its budget for Klaipėda Seaport activity, including  investments to Port infrastructure.

"The Port has not received from the State budget any money collected from  tax payers of the country. The State does not subsidize the Port development, we have not  received not an euro from the State. The Port Authority makes investments and performs its functions from accumulated funds received from two sources – Port dues and land lease, that constitute approximately 13 pct. of Port revenue," - emphasized Martynas Armonaitis, the Chief financial Officer of the enterprise.

Klaipeda State Seaport Authority is responsible for Port development, improvement of  infrastructure and administration of activity and navigation in the Port.

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