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Monday 05.12.2016 | Name days: Sabīne, Sarma, Klaudijs
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EUR 74.11 million to be allocated to improve infrastructure of large ports

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUIn order to help develop the mobility of Europe’s transport network and shipping safety in Latvia’s large ports, the European Cohesion Fund will allocate EUR 74.11 million as part of the 2014-2020 planning period. This is provided by Latvian Transport ministry’s developed draft that was approved by the government on 24 May.

The total funding for the realization of the specific support goal is EUR 87.19 million. Of this amount, EUR 74.11 million will come from the Cohesion Fund and EUR 13.08 million – from Latvia’s budget. The maximum amount of funding to be provided to individual projects by CF is EUR 24.7 million, as reported by Transport Ministry.

Specific support goals will be realized in the form of limited project selection process, where projects will be submitted by managements of Latvia’s large ports (Riga Freeport, Ventspils Freeport and Liepaja Special Economic Area).

Activities supported as part of specific support goals include the reconstruction of piers, docks and other elements of port infrastructure that are not leased or planned for business activities, as well as construction of additional infrastructure elements and provision of road and railway access.

It is planned to commence realization of projects in Q3 2016. The maximum realization term for projects is 31 December 2023.

Selection of eligible projects will be organized by the Central Finance and Contracting Agency.

Ref: 102.109.109.7852


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