The Board of the Freeport of Riga has approved a new port development programme for the Port of Riga, which is expected to significantly expand the facility’s operations and provide space for new businesses.
Other focuses of the programme, according to a statement from the Freeport of Riga, include attracting new cargo, cargo diversification, the development of port infrastructure and the improvement of the port administration model.
This project is based on a large-scale market study carried out by the Freeport of Riga and international experts, as well as consultants from the Port of Rotterdam Authority.
The analysis provided by the study highlighted containers and agricultural cargoes as two of the key areas which Riga’s development programme should target.
As part of the initiative, two scenarios for cargo increases have been outlined by the port.
— Port Technology (PTI) (@PortTechnology) October 17, 2018
The “optimistic variant” stipulates an increase in total cargo turnover of 41 million tonnes at the Freeport of Riga by 2027, the greatest contributor to which will be container cargoes.
The “minimum scenario” does provide for an increase in container volume, to 610,000 TEU by 2027, but also envisages a decrease in cargo turnover of 29 million tonnes during the next decade.
Carlos Zepeda, Business Developer at the Port of Rotterdam, commented on the programme: “Merchants want to see where this port is headed, what signals port management is sending about how this port will develop in future.
“Therefore, this vision of development on the part of port administration is necessary: it envisions what we want to become.
“Investment in port development is a very expensive affair which will pay off in years to come. Therefore, the vision of long-term cooperation is highly crucial for the port.”