Construction, Good for Business, Investments, Latvia, Logistics, Markets and Companies, Real Estate, Retail

Rimi Baltic has started work on the new development project that will see a new major logistics center, significant for the whole Baltic region, being built in Riga. The EUR 75 mln investments planned in the project make it one of the largest investment projects in Latvia in recent years, Rimi Baltic representatives said.

The new logistics center is expected to increase the company's export potential by 64.4% against 2015..

As reported, Rimi Baltic plans on investing EUR 64 mln in its new central storehouse complex and EUR 11 mln in the expansion of its head office in Riga. The investment project will allow the company to improve and enlarge its existing head office in Riga, making it more comfortable to the company's employees.

The storehouse's total floor space will exceed 70,000 square meters, while the size of the Rimi office will be close to 10,000 square meters after the expansion.

As reported, Rimi Latvia retail chain generated EUR 785.281 mln in 2015 sales, up 6 % from a year before, while the company's profit rose 16 % to EUR 27.427 mln.

Rimi Latvia belongs to Rimi Baltic, which in turn is owned by Swedish retail group ICA. The retail chain of Rimi Latvia currently comprises 119 stores of three formats: 31 Rimi hypermarkets, 44 Rimi supermarkets and 44 Supernetto discount stores. Rimi Latvia operates the Rimi and Supernetto stores in 27 cities and town across Latvia.