Baltic, Investments, Latvia, Markets and Companies

Tedesko pointed out that about EUR 1.5 million will be invested in opening two new fast-food establishments in Latvia this year, and that a total of five new ''McDonalds'' eateries will be opened in the Baltic States this year, Tedesko pointed out. ''We are continuing to develop and expand our business. We are not only investing in new eateries in the Baltics, but also improving our infrastructure,'' said Tedesko.

The first new ''McDonalds'' restaurant in Riga will be opened at the ''Alfa'' Shopping Mall, and should be up and running by the end of August. On the other hand, the second new ''McDonalds'' restaurant will be a ''McDrive'' concept eatery, however, the location in Riga has yet to be selected, writes LETA.

At the same time, Tedesko also revealed that one of the company's goals is to open up new ''McDonalds'' fast-food establishments in other cities, like Daugavpils (southeastern Latvia), Liepaja (southwestern Latvia) and Jelgava (central Latvia).

As reported, Premier Restaurants Latvia, the owner and operator of ''McDonalds'' and ''McCafe'' fast-food establishments in Latvia, Lithuania, Estonia and Malta, earned LVL 450,766 in profit last year, according to the Register of Enterprises' "Lursoft" database.

The company also achieved LVL 9,385,052 in turnover last year.