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Wednesday 26.06.2019 | Name days: Inguna, Inguns, Ausma, Ausmis
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European Bank for Reconstruction and Development monitors situation with Eco Baltia

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUEuropean Bank for Reconstruction and Development (EBRD) is actively monitoring the situation with waste management company Eco Baltia, as BNN was informed by the institution’s representative Dylan Bell.

EBRD owns 30.51% of shares in Eco Baltia. Bell says the bank is aware of the disputes among Eco Baltia shareholders and intends to work to ensure the company maintains good management principles.

«The EBRD’s number one priority in this difficult situation is ensuring the continued success of the company, and as such, we are monitoring events involving Eco Baltia carefully,» BNN was told by Bell.

The bank’s representative said the institution is currently unable to comment on the situation in Eco Baltia in more detail.

Commenting on the criticism voiced by Competition Council of the Republic of Latvia over the 20-year waste management tender, which was won by Clean R and Eco Baltia joint company CREB Riga, Bell said EBRD is committed to ensuring dynamic and competitive economy and that all projects handled by the bank have to comply with legal and regulatory statutes.

«The EBRD of course encourages that any concerns regarding competition are investigated thoroughly,» said the bank’s representative.

Previous events

The Eco Baltia supervisory board previously voiced distrust to environment management Eco Baltia’s board members Māris Simanovičs and Jānis Aizbalts over the decision to found CREB Riga together with waste management company Clean R.

Eco Baltia supervisory council member Viesturs Tamužs stresses that according to Eco Baltia supervisory board, Eco Baltia vide’s officials have acted contrary to statutes and coordination procedures and may have also breached regulatory acts of the Republic of Latvia.

Tamužs says Eco Baltia supervisory board has sent a letter of warning to Getliņi EKO, Clean R and CREB Rīga alerting them about possible serious complications in the procurement on «Private partner selection for providing the Riga municipal waste management system».

As previously reported, Getliņi EKO has declared CREB Riga the winner in the tender for public-private tender for waste management services in Riga worth EUR 686.3 million.

CREB Riga combines two waste management service providers Clean R and Eco Baltia vide. Eco Baltia vide owns 20% of CREB Riga shares and Clean R owns 80% of shares.

The winner of the aforementioned tender is to provide waste management services and investments in Riga in the next 20 years.

«The current public-private partnership scenario in Riga is the Sword of Damocles hanging over the waste management market’s development in Latvia, which basically means its end. Without competition, services will only become more expensive in a long-term perspective, and every resident of the capital will feel this,» says head of the Competition Council Skaidrīte Ābrama.

Tamužs is the chairman of Eco Baltia and owns 16.68% of shares. Simanovičs owns the same amount of shares. He is also the head of Eco Baltia’s owned Eco Baltia Grupa, which, in turn, owns Eco Baltia vide.


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