Riga Freeport Administration plans to invest EUR 19.8 million in port infrastructure this year

  • 2022-01-31
  • LETA/TBT Staff

RIGA - In 2022, the Riga Freeport Administration will invest EUR 19.8 million in development of the Riga port infrastructure, LETA learned from the Riga Freeport Administration.

The investment is planned by 24 percent or EUR 3.8 million higher than in 2021.

Of the total investment, about 60 percent or EUR 11.6 million will be Riga Freeport Administration funding, while 40 percent or EUR 7.8 million will be co-funding from the EU funds.

The Riga Freeport Administration's investment plan provides for investments in the port aquatorium, hydrotechnical buildings and upgrade of piers among others.

One of the most important infrastructure projects, requiring almost half of the planned investments is transport bypass from Tvaika Street to Kundzinsala. Construction works on this project should be completed by the end of 2023.

As reported, the Riga Freeport last year reloaded 21.499 million tons of cargo, which is by 9.3 percent less than in 2020.

Riga port is the largest Latvian port by cargo handling and passenger numbers.