The company's shareholders approved on Wednesday the management board's proposal to reconstruct quays number one and number two for up to 16.5 million euros, not including VAT.
Plans call for deepening the quays, built in 1963 to 1964, to 17 meters, making it possible for the oil terminal to accommodate up to three tankers at a time instead of the current two.
Klaipedos Nafta will invest in the quays' superstructure and the port authority plans to invest in the infrastructure.
It was reported earlier that Klaipedos Nafta intended to invest 49.5 million euros in its oil terminal expansion, with plans to install 12 new tanks for light oil products and build a new trestle and a new railway track.
