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Friday, 29.03.2024, 12:41
Latvijas Dzelzcels to borrow EUR 31 mln for implementation of infrastructure modernization projects
Latvijas Dzelzcels will have to repay the loan in seven years
.
The company will use the funds for modernization of Riga and Daugavpils
rail hubs to increase their throughput and safety, and renovate several tracks
and rolling stock.
According to Latvijas Dzelzcels
Vice President Aivars Straksas, the funding is meant for infrastructure
projects that are part of the company's medium-term strategy and are included
in the company's business plan.
Elmars
Priksans, head of OP Corporate Bank Plc.
branch in Latvia, said in turn that OP
Bank was a reliable partner of Latvijas
Dzelzcels, a company that is very important to the national economy of
Latvia. "Modernization of railroad infrastructure will strengthen the
freight transport, logistics and transport industries, and help Latvia
integrate with global transit routes," said Priksans.
As reported, Latvijas Dzelzcels
posted EUR 180.2 mln in turnover for 2017, down 6.4% from 2016, and EUR 800,000
in pre-tax profit.