The European Investment Bank (EIB) has agreed to provide a SEK445m ($45.8m) loan to Municipality of Ystad in Sweden to renovate the Port of Ystad to accommodate climate-friendly vessels.
The funding will be utilised to expand the harbour facilities to accommodate new, eco-friendly LNG vessels of more than 240m in length on the Swinoujscie-Ystad line.
EIB said that the project is aimed at increasing the capacity and renovating the facilities of the port to accommodate larger ro-pax vessels.
The project includes the construction of two new, deeper, ferry berths at a new pier which is located in the outer port basin along with the associated facilities in the reclaimed areas that are located to the east of the new berths.
It also comprises dredging works in the present outer basin of the port as well as the construction of a new breakwater at the south of the current eastern breakwater.
The project also involves the construction of a new reclaimed platform for future port activities along with the expansion and the extension of the breakwater at the western part of the Port of Ystad.
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.”
The project involves the improvement of on-shore power supply for berthed vessels, which will result in the improved climatic performance of the port.
Previously, the project was benefitted from support under the Connecting Europe Facility (CEF).
In October last year, the EIB has agreed to provide €300m in funding to Swedish residential company Heimstaden Bostad for the construction of affordable and energy-efficient housing.
Image: EIB supports refurbishment of Port of Ystad to accommodate climate-friendly vessels. (Credit: Port of Ystad)