Latvian Finance Ministry has submitted for approval by the European Commission a major Riga port relocation project from downtown to the Krievu Island and the development of necessary infrastructure, RZD-Partner.Ru reports citing the Latvia’s Ministry of Finance the project cost LVL129m (about €185m), of which 75m lats – the port’s own funds, another 54m lats (€77m) - the EU funds.

The main objective of the project is to prevent a negative impact on the environment. Currently, the major activity of the Freeport of Riga is carried out in the historic center of Riga. It is planned to relocate the port’s terminals to the Krievu Island that will help redirect freight traffics along the both banks of the Daugava River and reduce the intensity of cargo shipping near downtown, the Finance Ministry said.

The allocated 56ha site is intended for building four bulk cargo berths, highways, local railway, engineering and technical communication. The new port’s facilities on Krievu Island are projected to be launched in 2014.

Latvia submitted to the European Commission six major projects for co-financing from EU funds, including five transport projects, and an environment protection project.

Freeport of Riga lies on both banks of the River Daugava (Western Dvina). The total area of the port – 6.348 ha, length of berths – 13.818 m, maximum draft of vessels at berths – 12.2 m. Transits make up 80% of overall freight traffic, carried to / from the CIS countries. Last year’s statistics showed the Port of Riga handled 29.72 million tons, a year-over-year 0.5% growth.