The Lithuanian Cabinet approved on Wednesday a general development plan for the seaport of Klaipėda.
The port will be able to develop its southern part, deepen its navigation channel to 17 metres and, if needed, expand northwards, the government said in a press release.
Total investments in the port's development projects are estimated to be around 635.4 million euros in the short-term and 1.2 billion euros in the long-term.
The plan sets out strategic directions for the port's development in the next 25 years, and specific solutions for the next 15 years that will help it remain competitive, respond promptly to changing market conditions and build the necessary infrastructure, the statement reads.
Transport Minister Jaroslav Narkevič told the Cabinet that without a development plan, the port would fail to compete with neighbouring ports, which would cause "significant losses for the railways and other infrastructure".