The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Transportation / Storage Warehousing And Support Activities For Transportation, Postal And Courier Activities Warehousing And Support Activities For Transportation 52.2 - Support activities for transportation
200 jobs Number of planned job creations
Announcement Date
15 October 2005
Employment effect (start)
15 October 2005
Foreseen end date
1 July 2006
Description
About 200 new jobs will be created at a new port in the North-East of Estonia. The first stage of the Sillamäe port was opened in the middle of October 2005 and the management is hoping to expand the port in the following years. The company's investments for the first stage of the port came to almost 600 million kroons. The owners of the company are two businessmen from St. Petersburg (Russia) and the Estonian company Silmnet Group. Opening of the new port will strongly influence the economic development of North-East region of Estonia and strengthen the economic relations between Estonia and Russia. Sillamäe port is the deepest eastern port of the European Union.
Eurofound (2005), Sillamäe sadam, Business expansion in Estonia, factsheet number 62486, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62486.
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