$41.2 million is to be invested into port reconstruction

Budget 2002 adopted by the Lithuanian Ministry of Communications provides for Klaipeda Port to earn $27 million and receive almost as much in credits from Lithuanian and foreign banks. Kestutis Bartkevicius, director general of the port, informed that the overall earnings and credits may amount to $56 million. The port plans to obtain a $7 million credit against the state guarantees with the International bank of reconstruction and development for the port gate reconstruction program, and $9 million with European Investment Bank for the reconstruction of Berths 5,6. The port management plans to cut the operational costs, the management salary and bonus funds, cleaning the port territory, and navigation equipment repair by $300 thousand. $41.2 million is to be invested into the port reconstruction. The overall sum of credits for this purpose to be obtained from both Lithuanian and foreign banks amounts to $12 million. According to Vytautas Kaunas, port reconstruction project manager, tenders for port reconstruction works have already been announced.