Construction, Financial Services, Good for Business, Latvia, Transport

International Internet Magazine. Baltic States news & analytics Wednesday, 23.09.2020, 15:26

Latvijas Valsts Celi will implement a total of 84 projects in 2020

BC, Riga, 13.08.2020.Print version
The state-owned road maintenance company Latvijas Valsts Celi (LVC) will implement a total of 84 road projects in 2020, instead of the previously planned 70 projects, due to the additional EUR 75 million allocated to the company, LVC board member Martins Lazdovskis told Latvian Television this morning, reports LETA.

He noted that the company will fully implement the EUR 75 million program, including more repairs than previously planned. "The good news is that initially we had included 70 projects in the 75 million program, but due to high competition (...) instead of these 70 projects we will be able to implement 84 projects this year," said Lazdovskis.


He explained that more and more companies are participating in road construction procurements, thus the offered prices are lower, allowing to increase the number of objects to be repaired.


As reported, the Cabinet of Ministers on April 28 approved allocation of additional EUR 75 million for the road construction industry during the crisis caused by the Covid-19 coronavirus. The additional funds will be spent on renovation and reconstruction of bridges and highway and road sections that are currently in poor condition, renovation and reconstruction of which has been postponed so far due to insufficient funding.






Search site