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International Internet Magazine. Baltic States news & analytics Tuesday, 02.06.2020, 03:32

Riga Central Market plans to invest EUR 25 mln in development in five years

BC, Riga, 18.04.2019.Print version
Rigas Centraltirgus (Riga Central Market, RCT), municipal market operator, in the coming five years plans to invest about EUR 25 mln in development of the market territory, LETA learned.

RCT head Artis Druvinieks have already renovated part of the territory, including Gastronomy pavilion and has opened the first Gastro Market in the Baltics.

At the end of May the market information center will be opened and a personalized line of RCT souvenirs has been developed.

RCT has also worked on a medium-term development strategy that includes a number of projects to be implemented in the coming years, including upgrade of the Fish pavilion, Milk pavilion, parking lots,

“The size of investments are large, but we have talked with credit institutions and they are ready to support us,” said Druvinieks.

The Riga City Council does not grant any subsidies to RCT, and all resources for the market development come from its own profit. According to business database, in 2017 RCT turnover reached EUR 7.02 mln, and loss reached EUR 796,163.

RCT territory covers 7.2 hectares and it includes five historical pavilions with a floor space of 15,000 square meters. Every day the market gets about 60,000 visitors.

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