Baltic States – CIS, Banks, Financial Services, Latvia, Legislation, Markets and Companies, Metals Market

Berzins said that, "from my experience", the metallurgical plant is a very risky project, and the potential buyer must be someone who has a long-term experience in the market.

If there is someone who is able to renew Liepajas metalurgs operations, Latvia will only benefit from this, Berzins added.

Prime Minsiter Laimdota Straujuma (Unity) agreed with Berzins, saying that it is important that the factory is operational and gives work to people in the region. The price offered by the buyer and its further investments also matter a lot.

Straujuma is certain that Luxembourg-registered United group, which belongs to Russian millionaire Igor Shamis, and Ukrainian company KVV group have submitted the best offers. She declined to say though if choosing a company from Russia or Ukraine could pose threat to Latvia.

Commenting on the sale of the Citadele bank, Berzins said that the process is fair, and the scandals around the deal are only due to the elections drawing near.