Baltic, Cargo, Construction, EU – Baltic States, Good for Business, Investments, Latvia, Logistics, Markets and Companies, Real Estate, Retail

The planned investments in the new logistics center, which will be constructed in Latvia, will be around EUR 75 mln.

''Despite the fact that the Baltic countries are already cooperating effectively in logistics, this large-scale project will ensure that Riga becomes the central logistics point. This project is also the next step in the expansion and modernization of Rimi Latvia,'' Turlais said.

He pointed out that Riga has been selected as the location of the project due to its geographical position, as well as the favorable investment environment.

Rimi Baltic plans on investing EUR 64 mln in its new central logistics 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 logistics center'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 the board chairman of Rimi Latvia Valdis Turlais emphasized, the new logistics center will be constructed within the next four years and will become the central logistics center for Rimi in the Baltics.

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 28 cities and town across Latvia.