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Lithuania construction market bolstered by improvements in domestic economy and stronger exports
Lithuania Infrastructure Report 2014 - a new market research report on 2014-03-17 06:00:02
There is cautious optimism in the Lithuanian construction sector, bolstered by improvements in the domestic economy and stronger export performance. Although these factors will prove potent enough to help the sector return to positive growth territory in 2013 and 2014, the medium- to long-term outlook will remain less impressive, owing to uncertainties surrounding key transport and energy projects. On the brighter side, its EU membership will attract investors, helping the sector post annual average growth of 3.6% between 2014 and 2023.
Port Expansion: The Lithuanian port sector received a boost from the EUR44mn (US$57.2mn) loan agreement signed between the Nordic Investment Bank (NIB) and the Klaipeda State Seaport Authority in March 2013. Funding will be used for the reconstruction of quays, the building of a pier for passenger and cargo ferries, as well as dredging and boarding the port´s navigation channel. A EUR28mn (US $37.04mn) contract was signed by a consortium between Lemminkäinen and YIT in February 2013, to construct an extension to a container terminal at the Lithuanian Seaport of Klaipeda.
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