The southern part of the Klaipėda Port: new opportunities and billions of euros for the country
The Klaipėda Port is preparing to implement one of the largest projects in its history – to develop and start using a new 100-hectare area in the southern part of the port. A market study commissioned by the Port Authority outlines the prospects for Lithuanian industry and forecasts billions of euros in benefits for the country’s economy.
“Our aim was to make a responsible and informed assessment of what activities are and will be in demand and viable for decades to come. The market study of the project shows a great potential for the development of container activities and green economy businesses: a hydrogen production and export terminal, a green ship recycling business, and an offshore wind components factory”, says Algis Latakas, Director General of Klaipėda Port Authority.
The US company “Moffatt & Nichol”, were tasked with conducting a market study to assess the need and potential for the development of the southern part of the Klaipėda Port on an international scale, to prepare a business plan, to carry out a cost-benefit analysis of the project, to assess the economic benefits for Lithuania, and to prepare a plan of action for finding partners.
Of the 25 potential activities at the new terminal in the southern part of the port, the study identified four as the most promising: container terminal and value-added services for containers, offshore wind components manufacturing, a green energy terminal and green ship recycling using a modern automated cutting system.
A market study commissioned by the Port Authority has identified two scenarios for the usage of the area. The first proposes to divide the site into two activities: a container services centre and the production of offshore wind components. The second is to divide the area into 4 parts and develop it into container, green energy terminals, environmentally friendly ship recycling and offshore wind component manufacturing activities. The latter scenario is the most economically advantageous and would generate the greatest benefits for the Lithuanian economy, says study. It is estimated that 1 euro invested in the port development would generate a return of EUR 3.4, while the southern port area developed over 25 years would bring EUR 7 billion in benefits to the Lithuanian economy.
A market consultation is currently underway as a preparatory stage before the tender for private investors to be part of the southern port expansion project is launched.
In the southern part of Klaipėda Port, a new land area of about 100 hectares will be created and a 1.3 km long quay will be built. The development of the southern part of the port will also include the creation of a southern port gate with a marina for small and recreational ships.
