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2008 January 16   12:00

Poland’s Port Gdynia launches $415m investments

The port will become the second largest container port in the Baltic region, after St Petersburg in Russia. It will also catch up with the domestic leader - Gdansk.
Port Gdynia's management announced that it approved the capital expenditure plan for the next four years. The state-owned company's president, Przemyslaw Marchlewicz, said Port Gdynia will spend its own funds and money from EU programmes.
He hopes 85 percent of the projects will be financed from EU funds. The five most important are on the main list of projects supervised by the Development Ministry.
Marchlewicz adds that the company has a lot of its own funds from the privatisation of land which belongs to the Port, as well as from profits. In 2007, Port Gdynia earned ZL30m net, which is the best result in the company's history. The first project concerns dredging the port canal. This should start in the spring.

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