Freeport of Riga invests EUR 7.43M in port development

The Freeport of Riga Board has approved the Freeport of Riga Investment Plan for 2025.

This year, EUR 7.43 million will be invested in the development of the Port of Riga, which is EUR 1.07 million or 17% more than last year.

Also, the investment plan for 2025 will provide for both the implementation of several large-scale port infrastructure projects, which have already been started, as well as for investments in new projects of strategic importance for the port.

“The priority of this year’s investment plan is the implementation of the port’s major infrastructure development and digitisation projects, that will increase the potential for attracting new investments. Investing in the physical and digital infrastructure of the port is essential to proceed with the process of attracting investors to develop modern manufacturing and logistics parks in the port area,” said Sandis Šteins, Chairman of the Freeport of Riga Board

“We realise that investors are very interested in the Port of Riga, but the port’s current infrastructure does not always meet the requirements of big scale investment projects. That is why we are currently focused on targeted investments in the port’s infrastructure to make it as attractive as possible and to meet the investor needs.”

This year, the Freeport of Riga Authority will continue to work on the development of industrial infrastructure in Kundziņsala, which is currently being transformed into an operational cargo warehousing and logistics centre and a site of major international investment projects.

At the end of 2024, the Cabinet of Ministers approved the implementation of the project “Establishment of port and logistics infrastructure for the development of wind technology production in Kundziņsala” and approved the investment of €64.6 million into the development of infrastructure in the Kundziņsala area.

The total investment of the project will amount to more than EUR 85 million, which are allocated for the construction of engineering networks, increasing network capacity, the construction of access roads and a railway crossing, a new deep-water berth with a RoRo ramp, new logistics infrastructure as well as for the dredging of the water area.

The project will be completed by December 31, 2029.