Luminor Bank has granted EUR 4 million in funding to Novikontas Maritime College for the construction of a new, modern academy building in Riga. The project will enable the expansion of curricula and increase student capacity, strengthening maritime education and training opportunities for both aspiring and experienced seafarers, as well as other industry professionals. This marks a significant step in establishing Latvia as a leading maritime education hub within the Baltic and European regions.
The total area of the new academy building will exceed 3,000 square meters, and the project is currently entering its final phase of construction. In the first stage, with Luminor Bank support of EUR 2.4 million, a modern swimming pool was built for maritime and OPITO (offshore energy) training, which enabled the company to double its turnover. The new building will enhance the company's international profile and will allow to enroll even more students from both Latvia and abroad.
"We are pleased to continue our cooperation with Novikontas Maritime College, which has established itself as a clear leader in maritime education within the Baltic region. This funding will not only facilitate the development of modern infrastructure but will also enhance the accessibility of high value-added education services and the training of a skilled workforce for sectors with global demand. Maritime and offshore energy are highly specialized, internationally regulated industries, where competitiveness is determined by both the theoretical and practical foundations, and the ability of the maritime college to combine these elements is fundamental to the organization’s sustainable growth," emphasizes Ilze Zoltnere, Head of the Corporate Department of Luminor Bank in Latvia.
As part of this project phase, the company has already invested EUR 400,000 in the preparation of technical documentation and site infrastructure development. The company is also committed to sustainability – solar panels have been installed on the roof of the existing swimming pool, reducing energy costs.
"The construction of the new building is a logical continuation of our growth. Following the construction of the specialized pool for sea rescue trainings, the demand for specific courses, including renewable energy and offshore platform maintenance, increased significantly. The new infrastructure will elevate the institution to a fundamentally new level and enable us to offer an even wider range of internationally recognized education and training programs in one location. Our competitive advantage lies not only in the most modern equipment, but also the high professionalism of instructors, who bring extensive international experience from the industries we serve. As English is our primary language of instruction, it is an important factor in attracting international students. We can confidently say that upon completion, the Novikontas Academy complex will be one of the most advanced and modern maritime education centers not only in Europe, but also in the world," says Dmitrij Semjonov, CEO of the company.
Novikontas Maritime College is currently the largest organization of its kind in the Baltics. Maritime education is a highly specialized and strictly regulated sector under the supervision of international maritime accordingly, all programs and courses are certified in in accordance with international standards (STCW, OPITO, GWO, DNV). The management team consists of professionals with more than 25 years of experience in the maritime industry, ensuring the highest standards of training. The international clientele of Novikontas Maritime College already includes such industry giants as Maersk, Boskalis, Van Oord, Stena Line and others.
About Novikontas Maritime College
Novikontas Maritime College Ltd. is one of Europe's leading maritime education and training institutions with a strong international presence. It is part of the UAB Novikontas (LT) holding company. Our main strength is the development of high-quality maritime competencies by combining advanced simulator training, hands-on learning and robust training and quality management systems.
By Luminor
Luminor is the leading independent bank in the Baltic States and the third largest financial services provider in the region. We provide financial services to individuals, families and businesses. Like the Estonian, Latvian and Lithuanian markets, we are young, dynamic and focused on the future.
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