Baltic States – CIS, EU – Baltic States, Latvia, Port, Transport

"I did not sell Man-Tess port because Alandam Capital did not need it. If there is a buyer, then the port will also be sold. However, first we will finish what we have started and build a new warehouse for granules, because the company has already signed several agreements with new clients," explained Krumins.

Commenting Alandam Capital, Krumins points out that the Dutch company has a vision of further development and Riga will only gain from its business activities, writes LETA.

"They will bring their own cargo volumes. I believe that in five years Man-Tess will be handling 3-4 million tons of cargo per year, compared to 1 to 1.5 million now," said Krumins.

As reported, Alandam Capital plans attract new investors and focus on further development of the group's companies, the business information portal "Nozare.lv" was informed by the company.

Alandam Capital Director Robert Eichhorn points out that the company does not intend to restructure the group's companies. The previous owners' plans will be assessed, and a vision of further development and expansion of business activities will be prepared.

According to the new development plan, Alandam Capital will make use of the experience and knowledge that is available in the Netherlands. The company may also attract new investors, who will be interested in expanding the business activities of the group's companies.

Eichhorn believes that cargo handling business at Riga Port is highly perspective due to several factors. The increasing demand for oil products on global market will ensure that cargo will be handled at full capacity. In addition, Russia plans to join the World Trade Organization in 2011, thus the transport tariffs will be brought in line and transit of general cargo may increase.

"It is obvious that Russian ports cannot handle the entire amount of cargo," said Eichhorn.