Airport, EU – Baltic States, Good for Business, Investments, Latvia, Transport

He said that after some four months of corresponding with the potential investors they would arrive in Daugavpils tomorrow to inspect the airport in person and, possibly, to sign a cooperation agreement.

If the cooperation worked out well and the potential investors were willing to develop the airport, the local government could auction it off, Eigims said.

The project for development of the Daugavpils airport has been put on hold while negotiations were held with potential investors.

Selling the airport is one of the options. However, none of the potential investors, which included Chinese, Russians and Germans, was willing to buy the airport for EUR 2-3 million which is the amount that the local government has invested in the airport so far.

There are altogether three scenarios for development of the Daugavpils airport with costs estimated at EUR 24 million, EUR 9.5 million and EUR 2 million respectively but the local government cannot afford the spending, and there is no EU funding available for the project.