EU Backs Estonia-Finland Joint Ports Upgrade Project with $16.8M

July 17, 2024

(Credit: Port of Helsinki)

The TWIN-PORT VI scheme, a four-year project representing a continuation of the long-term cooperation between ports of Tallinn and Helsinki, has received a funding commitment from the EU in the amount of $16. 8 million (€15.4 million).

The TWIN-PORT VI project aims to reduce transport system emissions and to improve conditions for passenger and freight transport operations.

In the project, the Tallinna Sadam port will focus on environmental impacts and plans to build on-shore power systems in Muuga Harbour so that ro-ro and container vessels can use electricity from the shore power grid.

On the other side, the Port of Helsinki aims to develop the Vuosaari Harbour. The total cost of the project covering two harbours is $33.6 million (€30.8 million), half of which is financed by the European Union.

Budget of Tallinna Sadam for the entire project is $22.1 million (€20.3 million), and about $11.45 minutes (€10.5 million) is estimated by Helsinki Port. If the supervisory board of Tallinna Sadam approves the investment, planning and execution of the works will begin as soon as possible.

Tallinna Sadam is one of the largest cargo- and passenger port complexes in the Baltic Sea region. In addition to passenger and freight services, Tallinna Sadam group also operates in shipping business via its subsidiaries – OÜ TS Laevad provides ferry services between the Estonian mainland and the largest islands, and OÜ TS Shipping charters its multifunctional vessel Botnica for icebreaking and offshore services in Estonia and projects abroad.

Source link : https://www.maritimeprofessional.com/news/backs-estonia-finland-joint-ports-395200

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Publish date : 2024-07-17 07:00:00

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