Invest Lithuania has announced more guarantees to private investors in the Marvele cargo port public private partnership (PPP) project.
As part of the project to revive the port in Kaunas and increase cargo transportation via the River Nemunas, a consultation with potential investors was held by the three authorities responsible;
During the public consultation, potential partners identified some significant operating risks. As a result, the authorities are now considering additional guarantees and improvements to the tender conditions.
The Marvele cargo port, located on the River Nemunas in Kaunas, will be a key component of the Lithuanian government's strategy to reduce road freight, thus improving air quality and reducing congestion. Before the 1990s, over 1.5 million tons of freight were transported annually via the Nemunas. Therefore, a potential turnover of 1 million tons per year is expected for the cargo port.
The project is being completed in two stages. The first stage is a traditional procurement project funded by the EU and the State. Stage two will be developed though a PPP project. Capital investment in the project is €11 million, and public funds have already been allocated to maintain access roads to the port and to ensure the stated fairway depth of the Nemunas is maintained.