Construction, EU – Baltic States, Financial Services, Forum, Latvia, Real Estate

The minister said that the construction tender of the Latvian Pavilion ended without results, as the only two offers that were submitted both exceeded EUR 6 million.

Later on, the Economy Ministry received additional offers from seven other construction companies at prices between EUR 3.16 million and EUR 4.37 million.

The ministry decided to assess the best two offers – one from Italy, another from Switzerland. The Economy Ministry decided to continue discussions with the Swiss company, as its contract price was EUR 3.1 million.

As reported, the government decided yesterday to spend EUR 1.6 million to cover additional costs for the national pavilion at "World Expo" in Milan next year.

The said funds will be used for the construction job.

Reizniece-Ozola explained that in order to build the Latvian Pavilion, the government will have to spend additional EUR 1.6 million. For this reason, the government had to pass one of the two Economy Ministry's decisions in regard to Latvia's participation in the exhibition.

The decision foresees additional allotment of EUR 1.6 million in order to continue Latvia's participation in the exhibition, taking into account the fact that the Latvian Pavilion could remain unfinished until May 2015.