EBRD delegates interested in tunnel project

RIGA (LETA) - Delegates from the annual meeting of the European Bank
for Reconstruction and Development board of governors expressed their
interest in two out of five projects presented by the Riga City Council
that require foreign investment.

Riga City Council Chairman Andris Argalis said the project for
construction of a new bridge or tunnel across the Daugava River
garnered the most interest from foreign bankers, as in Mezaparks.

Regarding to the reconstruction project for Riga's heat supply, several
interested parties requested more detailed information.

The project for development of Riga's Andrejosta area was rated as a
prospective place where both the port and a new business transaction
zone can be created.

Potential investors were less interested in the Riga Passenger Port,
whereas Argalis heard praise on the intent to revoke rental fees for
utilization of quays in order to boost the interest of foreign shipping
companies in establishing passenger traffic with Riga.

Argalis said he met with numerous participants during the meeting and
heard positive comments overall on the well-organized event and the
tidiness in Riga.

"I believe that participants of EBRD meeting will now have a completely
different view of Riga," Argalis said.