Cargo, Investments, Latvia, Port, Transport

International Internet Magazine. Baltic States news & analytics Saturday, 23.02.2019, 15:14

Riga Freeport projects 4% turnover drop in 2018; investments - EUR 50 mln

BC, Riga, 02.01.2018.Print version
The Riga Freeport plans a 4% turnover drop in 2018, and investments in development are planned at EUR 49.7 million, the port’s representative Vita Gerharde reported LETA.

She explained that when planning this year’s budget revenues, a cautious forecast of cargo turnover was considered, based on plans submitted by stevedore companies.


"The overall cargo turnover is planned at 30 million tons, which is by 4% lower compared to last year," said Gerharde.


In line with the port’s board decision, the port’s administration budget this year is planned at EUR 43 million.


Riga Freeport administration this year will continue the launched investment projects in Krievu Sala and Kundzinsala, said Gerharde.


"The projects aimed at promoting the port’s competitiveness. Investments this year will grow more than three times compared to 2017," she said.


As reported, in the first 11 months of 2017, the Riga Freeport reloaded 31.117 million tons of cargo, down 6.7% year-on-year.


Riga port is the largest Latvian port by cargo turnover and passenger numbers.


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