EUR 14.7 million financing granted to Klaipeda Terminal Group
We have reached an agreement with UAB Klaipeda Terminal Group (KTG) for EUR 14.7 million loan. The financing will be allocated for the implementation of KTG's investment plan, specifically for the acquisition of new equipment – cranes.
The planned investments are intended to further enhance the cargo efficiency at one of the companies controlled by KTG – Klaipeda Container Terminal (KCT). Two STS-type electric cranes will be purchased for the planned investments from the Finnish company Konecranes. These new cranes will replace the old ones and will be used for loading containers from ships to the shore.
"We are pleased with the successful long-term collaboration with OP Corporate Bank's Lithuanian branch. The port cargo business requires constant significant investments in long-term assets, and a reliable financial partner significantly eases these concerns," says Vytautas Pikturna, CFO of KTG.
"Global shipping trends dictate that increasingly larger vessels arrive at the terminal. The main demand from terminal customers, shipping lines, is for faster vessel servicing. They are interested in ensuring that ships spend as little time as possible in the port. To maintain the competitiveness of our company, we invest in the upgrading of terminal equipment," says Vaidotas Sileika, General Director of KCT.
According to V. Sileika, five years ago, investments were made in two new STS cranes of the same type, manufactured and delivered to the terminal by the company Konecranes.
"For six years now, we have been collaborating with KTG and its controlled companies, assisting in the implementation of investments that contribute to the growth of the company and create added value for the entire Lithuanian economy, as efficient port operations are crucial for the country's development. The latest investment is an excellent example of green investing, creating economic benefits for the company while also reducing climate change and promoting the transition to a sustainable economy," says Leda Irzikeviciene, Country Manager of OP Corporate Bank Lithuania branch.
The new cranes from the Konecranes factory in Finland will be delivered to Klaipeda in the second quarter of this year.
We belong to the largest financial services group in Finland, OP Financial Group, and in Lithuania, we work with large and leading medium-sized companies in their respective fields. We are the fifth-largest bank in the country in terms of loan and leasing portfolio, which amounts to EUR 1.24 billion.