Tallinna Sadam Supervisory Board Approves Investment in Paldiski South Harbour Dredging

The investment aimed at increasing competitive ability of Paldiski South Harbour will support bottom dredging of the turning ring and the channel of the water area of the port from the current 13.5 metres to 14.5 metres.

At the moment Paldiski South Harbour is mainly used for handling of ro-ro goods, scrap metal, timber, peat and petroleum products. Another important area of activity is transit and pre-sale service of new cars intended for neighbouring markets. The investment in increase of capacity of Paldiski South Harbour will allow to satisfy future needs of existing customers and to increase attractiveness of the harbour for new customers.

On Monday the Management Board of the Port of Tallinn also presented to the Supervisory Board a summary of initiation process concerning detail plans of scheduled real estate developments of Old City Harbour. The Supervisory Board was also provided with information concerning developments of regional liquefied natural gas terminals.

AS Tallinna Sadam is Estonia’s biggest complex of cargo and passenger ports owned completely by the state. For 2014 AS Tallinna Sadam forecasts an 8 percent increase in operating income (to 111 million euros), and the predicted net profit of 37 million euros. The expected handled amount of cargo is 29 million tonnes, and according to the forecast this year the number of passengers visiting the port will reach 9.19 million persons.

Press Release, June 30, 2014