AS Tallinna Sadam signed a Memorandum of Understanding with the City of Tallinn for development of the Old City Harbour area according to “Masterplan 2030”
AS Tallinna Sadam (hereafter “Tallinna Sadam”) and the Urban Planning Department of the City of Tallinn signed a memorandum of understanding (hereinafter “MoU”), declaring mutual interest of the parties in developing Old City Harbour area into a modern, attractive and lively city center, with high-quality public space. According to the MoU, Tallinna Sadam and the Urban Planning Department of the City of Tallinn will make a joint effort to implement the Old City Harbour development plan “Masterplan 2030”, which was composed by architectural bureau Zaha Hadid Architects in 2017, considering the principles of the Tallinn Seaside Vision.
The MoU provides that Tallinna Sadam and City of Tallinn will establish a joint council, the task of which will be to advise Tallinna Sadam on spatial planning and urban development in preparing the detailed plans of the Old City Harbour area. The next step in implementing “Masterplan 2030” is arranging a public procurement for engaging a partner to draft the detailed plans for the area and apply for the initiation of proceedings for such detailed plans.
The comprehensive report of “Masterplan 2030” in English and its translation into Estonian are available on the webpage of Tallinna Sadam, at: http://www.portoftallinn.com/old-city-harbour-development-plans .
Tallinna Sadam is one of the largest cargo- and passenger port complexes in the Baltic Sea region, which in 2017 serviced 10.6 million passengers and 19.2 million tons of cargo. In addition to passenger and freight services, Tallinna Sadam group also operates in shipping business via its subsidiaries – OÜ TS Laevad provides ferry services between the Estonian mainland and the largest islands, and OÜ TS Shipping charters its multifunctional vessel “Botnica” for icebreaking and construction services in Estonia and off-shore projects abroad. Tallinna Sadam group is also a shareholder of a joint venture AS Green Marine, which provides waste management services. Tallinna Sadam group’s sales in 2017 totaled EUR 121.3 million, EBITDA EUR 66.5 million and net profit EUR 26.4 million.
AS Tallinna Sadam
Head of Investor Relations