The supervisory board of the Port of Tallinn in Estonia has agreed to extend the deadline for completion of the Muuga container terminal by 12 months until July 2014.
Rail Garant Estonia, the developer of the terminal, submitted an application to extend the deadline after numerous legal disputes hindered the development process. The board agreed to amend the building rights contract based on the fact that the two-year litigation stalemate should stop if Transiidikeskuse, a terminal operator, purchases Rail Grant Estonia and starts to implement the terminal’s restructuring plan with Rail Garant Estonia, Port of Tallinn and Transiidikeskuse.
Transiidikeskuse is now in the process of negotiations regarding purchase of Rail Garant Estonia, said Erik Laidvee, chairman of the management board of Transiidikeskuse, in a written statement. “The decision of the supervisory board of Port of Tallinn allows reaching the agreement in the near future,” he explained.
The opening of the new terminal is expected to double the turnover of containers moving through the Port of Tallinn to up to 500,000 20-foot-equivalent units per year, according to the port.