The Nordic Investment Bank (NIB) and the Estonian port operator AS Tallinna Sadam have signed a EUR 25 million loan agreement for financing the acquisition of an icebreaker.
NIB finances purchase of icebreaker for Estonia
Please note that the article is more than five years old and belongs to our archive. We do not update the content of the archives, so it may be necessary to consult newer sources.
The Finnish-built “Botnica” that was acquired by AS Tallinna Sadam in October 2012 substantially reduces the need for leasing additional capacity for maintaining ice-free routes in Estonian waters. NIB is financing half of the icebreaker’s purchase price.
“Botnica” is designed as a multipurpose vessel of unrestricted service. In winter time, it works as an icebreaker in the Baltic Sea area helping to keep Estonia’s harbours on the coast of the Gulf of Finland ice-free. In the open-water period, it serves as an offshore construction vessel worldwide.
“Upgraded ice-breaking services are critical to the competitiveness of Estonia’s port infrastructure. The project is aimed to improve the reliability and quality of the port services in the country,” says Henrik Normann, NIB President & CEO.
AS Tallinna Sadam (the Port of Tallinn) is a fully state-owned company that owns and operates five seaports in Estonia, in the Old City of Tallinn, Muuga, Paldiski South, Paljasaare and Saaremaa.