International Internet Magazine. Baltic States news & analytics
Wednesday, 27.07.2016, 22:11
The Estonian transmission system operator Elering is to announce this fall the construction tenders for building the Estonian section of the third Estonian-Latvian power connection and the final decision is to be made next spring, reports LETA/BNS.
Keyword tags: Construction, Energy, Estonia, Good for Business, Latvia
During the first quarter of 2016, construction in Latvia slowed down by 19% from the first three months of last year, which was the third steepest drop among EU member states, according to updated Eurostat information on all 28 members of the bloc, writes LETA.
Data of the Central Statistical Bureau (CSB) show that, compared to April, in May 2016 the level of construction costs in Latvia increased by 0.2%. Labour remuneration of workers went up by 1.2%, maintenance and operational costs of machinery and equipment increased by 0.1%, whereas the prices of building materials went down by 0.2%.
The Lithuanian capital has scrapped plans to build the so-called Vilnius House in Moscow and is set to liquidate its subsidiary responsible for the project, the daily Lietuvos Zinios reported on Tuesday, cites LETA/BNS.
The Estonian real estate developer E.L.L. Kinnisvara is to build a complex consisting of two office buildings and one residential building across the street from the Olumpia hotel in the Tallinn city center, and the first stage of the construction, which includes building a 30-storey office building and an underground parking lot is to be finished in 2020, reports LETA/BNS.
Construction on the third phase of Vilnius western bypass may be completed as early as in 2016 and the road is expected be opened to traffic immediately thereafter, Vilnius Major Remigijus Simasius has said, cites LETA/BNS.
The three Baltic countries have agreed on the distribution of VAT revenue from the construction work on the European standard-gauge railway Rail Baltica, Lithuania’s Transport Minister has said, adding that a respective agreement has already been signed and Lithuania will retain VAT revenue from work carried out in the country, informs LETA/BNS.