China has recently announced a huge investment into the Port of Tallinn which will enhance Estonia’s position as the main transit port for the Baltic area.
China’s Ningbo Port has agreed to help build an approximately 150 million euro container terminal and goods warehouse together at Muuga on the eastern side of Tallinn. Port of Tallinn Chairman, Ain Kaljurand was quoted as saying that the terminal should be completed by the beginning of 2011 and that total investments would amount to $220 million.
The terminal will have annual throughput of one million containers (TEUs) at its first stage and will become the largest concentration and distribution center for Chinese products around the Baltic Sea area. The products can be also transferred to surrounding areas like Northern Europe, Western Europe and the northwest of Russia. Tallinn Port, whose cargo throughput is the largest in the Baltic Sea area, handled 36 million tons of cargo and 1.365 million TEUs in 2007.
China’s Ningbo Port, which dealt with 344 million tons of cargo and 9.3497 million TEUs in 2007, up 11.07% and 32.28% year on year respectively, has opened 190 container shipping routes, 101 of which are for ocean shipping. It has advanced expertise in port construction.