The company said its shareholders would be asked on Dec. 6 to give a green light to the board decision to reconstruct two of the port's embankments.
Constructed in 1963-1964, the depth of the embankments should be increased to 17 m, which would enable the oil terminal to accept three tankers instead of the current two.
According to earlier reports, Klaipedos Nafta plans on investing 49.5 million euros in expansion of its oil terminal, with plans to build 12 new reservoirs for light oil products, a new unloading bridge and a railway.
