State-run stevedoring company Tallinna Sadam (Port of Tallinn) and logistics company Unieveem (a subsidiary of Belgian Katoen Natie) have signed an agreement to establish a warehousing facility in the port of Muuga, the Tallinna Sadam press release said.
The warehouse complex encompassing 4.5 ha (Phase 1 – 25,000 sqm) is intended mainly for storage cocoa beans and other cocoa products. The warehouse project is valued EUR 16 million. The warehouse is expected to be commissioned in the first quarter of 2013.
AS Tallinna Sadam, a stevedoring company operating at the port of Tallinn, was incorporated in 1996. The company’s sole shareholder is the Republic of Estonia. Consolidated revenues of Tallinna Sadam in 2011, according to unaudited statement, increased by 3% year-on-year to EUR 89.2 million. The company's pre-tax income and excluding proceeds from sale of assets increased by 4% to EUR 41.3 million.
Katoen Natie founded in 1854 is now a largest logistics company in the world. The Company operates through 159 logistics platforms in 28 countries worldwide. The total area of indoor warehouses is over 5 million sqm.
Port of Muuga (part of Port of Tallinn) is a premier cargo and passenger port of Estonia and one of the largest ports in the Baltic Sea. Muuga berths depth exceeds 17 meters, which enable access of large tonnage vessels.