NIB Nordic Investment Bank

Loan

Lithuania. Lithuanian Airports

Date of loan: 1 Jun 2017
Country: Lithuania
Customer: Lithuanian Airports
Amount in EUR: EUR 29.6 million
Maturity: 15 years
NACE sector / loan type: Air transport

Sectors

Infrastructure, transportation and telecom

Project

The loan has been provided to finance the company’s investment programme, which totals EUR 95.3 million. The programme is aimed at improving flight safety and aviation security, increasing service capacity and reducing the environmental impact of Lithuania’s three airports: Vilnius, Kaunas and Palanga.

Vilnius Airport:

- Renovation of the runway and taxiways, construction of a new taxiway, expansion of the apron capacity and installation of a new runway lighting system

- Installation of a new luggage handling system, reconstruction of the passenger terminal, construction of a multi-storey car park and purchase of new security check equipment

- Modernisation of the surface water treatment plant and an update of the noise and video monitoring system

Kaunas Airport:

- Modernisation and construction of terminal, taxiways, aprons and access roads, installation of engineering networks, a car park and a checkpoint

- Modernisation of the terminal and security check equipment

Palanga Airport:

- Reconstruction of the passenger terminal, runway, apron and taxiways, construction of additional parking

Lithuanian Airports is a state enterprise established in 2014 to operate the country’s three airports: Vilnius, Kaunas and Palanga. Lithuanian Airports served 4.8 million passengers in 2016, with Vilnius being the largest at 3.8 million passengers. Vilnius Airport serves the country's most populous region, around the capital city. Kaunas Airport is primarily focused on serving low-cost carriers. Palanga Airport serves Lithuania's busiest coastal resort.

Fulfilment of NIB's mandate

The investment is likely to increase the operational efficiency and capacity of Lithuania’s airports. The improved procedures for surface water treatment are expected to reduce the contamination of soil and groundwater from de-icing agents.

Sustainability summary

The implementation of the project is expected to have low potential for negative environmental impact. The only environmental issue concerns soil contaminated by the fire extinguishing foams which were used previously. The foams contained PFASs, chemical compounds that are extremely persistent and toxic to humans in very small concentrations.

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