The Estonian government has given a US$74.3 million loan to Tallinna Sadam (Port of Tallinn) at six months Euribor plus three percent interest, the Baltic Business News reported.
Compared with other loans the port has recently received at general market terms the loan given by its owner is more expensive. At the beginning of this year the company borrowed from the European Investment Bank (EIB) $59.4 million for a 20-year term at a risk margin of 0.41 percent.
Finance Minister Jurgen Ligi signed the loan contract with the port on November 18. The deadline of its repayment is September 1, 2024.
The loan will be spent on the extension of the container terminal of the Muuga harbour and the building of railway sidings and a flyover as well as an area of common use.
Compared with other loans the port has recently received at general market terms the loan given by its owner is more expensive. At the beginning of this year the company borrowed from the European Investment Bank (EIB) $59.4 million for a 20-year term at a risk margin of 0.41 percent.
Finance Minister Jurgen Ligi signed the loan contract with the port on November 18. The deadline of its repayment is September 1, 2024.
The loan will be spent on the extension of the container terminal of the Muuga harbour and the building of railway sidings and a flyover as well as an area of common use.