NIB finances expansion of Ystad port in Southern Sweden

NIB finances expansion of Ystad port in Southern Sweden

NIB finances expansion of Ystad port in Southern Sweden

The FINANCIAL -- NIB and the municipality of Ystad have signed a 25-year loan agreement of SEK 500 million (EUR 48 million) to finance the expansion of the city port.

The Port of Ystad is one of the largest ferry and shipping points in Southern Sweden, and a connection hub to Bornholm, Poland and Central Europe.

The expansion project will allow the port to take advantage of growing traffic volumes along the Ystad – Swinoujscie route and to handle larger vessels as well as more cargo, according to NIB.

The port will expand southwards and make it possible for larger ferries to traverse the outer basin. Two new berths will be constructed, and the break water on the south side will be expanded. The inner port area will be used for passenger traffic after the expansion is completed in 2021.

“The new port infrastructure will remove bottlenecks and accommodate an increase in cargo and tourism over the next decade. Given growing trade economic interaction and tourism, shipping and port operations are crucial for the Baltic Sea in promoting interconnection and revenue opportunities”, says Henrik Normann, NIB President & CEO.

Transport by sea is regarded as a preferred option over road transport, and up to 15% of the world’s cargo is handled on the Baltic Sea.

Ystad Hamn Logistik AB is responsible for managing and operating the city port of Ystad, one of the largest ferry ports in Sweden. The municipality of Ystad is located in Skåne County in Southern Sweden and has approximately 30,000 inhabitants.