Riga To Undergo 10-Year Development Plan
A 10-year port development programme which will expand operations, diversify cargo and develop port infrastructure at the Freeport of Riga has been approved by its board.
The Development Programme 2019-2028 provides for significantly expanded operations at the Freeport of Riga, facilitating industrialisation and the entry of new companies into its territory. It places greater focus on the development of passenger transport, as well as attracting new cargo, cargo diversification, development of port infrastructure and improvement of the port administration model.
“In the new development plan, we have focused our attention on industrialisation: we will promote the development of production and services with added value, as well as more effective use of the port territory and attraction of development projects for vacant territories in the Freeport of Riga,” emphasised Ansis Zeltiņš, CEO of the Freeport of Riga.
The development programme is based on a large-scale market study involving Freeport of Riga specialists and consultants from the Port of Rotterdam Authority and identifies container cargoes, agricultural and forestry cargoes as potential cargo types for the Freeport of Riga. Analysis showed the passenger transport segment also had potential.
In the programme’s optimistic scenario, total cargo turnover of the Freeport of Riga in the upcoming decade will increase to 41m tonnes. The greatest contribution to this increase will be ensured by container cargoes, the volume of which will exceed 1m teu in 2037.
The minimum scenario envisages a decrease in cargo turnover in the upcoming decade to 29m tonnes, primarily due to a decrease in cargoes of energy resources. However, this scenario provides for an increase in the turnover of container cargo to 610,000 teu in 2027.
Source: Port Strategy