Freeport of Riga Budget Priorities Set

The Freeport of Riga Authority budget for 2015 was unanimously adopted at the Board’s meeting on December 18, 2014.

In the framework of the budget, the Freeport is planning to invest 69.6 million Euros into the Investment Program implementation, which will foster the competitiveness of the Freeport of Riga on the international maritime transport market.

The budget priorities are defined in compliance with the objectives, approved by the Freeport of Riga Development Programme 2009-2018 – to develop the Freeport of Riga as a leading port in the Baltic States and a major source of prosperity for the Latvian economy.

The next year’s investment is allocated to the two-tier priorities. For implementation of the first-tier priority, including the project “Development of the Krievu Sala Infrastructure for Relocation of the Port Activities from the City Center”; dredging of access channel for vessels entering Riga port; capital renovation of the railway; construction of new elements of the railway infrastructure; railway design works according to the concluded agreements – it is planned to allot 61.1 million Euros, of which 49.4 million are planned for Krievu Sala project.

The second-tier priorities are as follows: design and construction of two railway tracks of the rail park “Kundziņsala”; construction of the Freeport of Riga Rinuzhi District connecting railway track; design and construction of other buildings and structures; renovation of bank protection structures at Kipsala; other capital repairs, reconstructions; purchase of movable and immovable fixed assets, for which a total of 8.5 million Euros has been approved.

Mr. Andris Ameriks, the Freeport of Riga Board Chairman, expresses his satisfaction that the budget for next year was adopted unanimously. “My assessment of the next year’s budget implementation in regards of the income section is quite optimistic. There are several prerequisites – the terminals have entered into the long-term contracts with the cargo owners, as well as several new terminals will start to operate at full capacity that will significantly increase the total volume of the handled cargo. According to our information large-scale investment is being planned on the Freeport of Riga territory.

The Freeport of Riga Board will assess the budget performance every quarter.

Press Release

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3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews ( holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee:

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