Press digest

2018 March 26

Construction designs for logistics complex of Latvian-Indian joint venture Bhandar in Riga to be completed in H1

The development of technical designs for construction of a logistics complex of the Latvian-Indian joint venture Bhandar in Riga are to be completed in the first half of 2018, said Bhandar representative Mikelis Lapse, cites LETA.

He said that a multi-functional warehouse and reloading center was to be built in the territory of the Riga port to serve as a cargo distribution and consolidation center for goods from India and other countries to be shipped to North Europe, Russia and the CIS countries.

During the first stage of the project, a warehouse with the total area of 7,500 square meters will be built. There will also be outdoor cargo storage areas around the building. It is planned that the warehouse would hold electric appliances, pharmaceutical products, dried fruit and nuts.

Lapse said that project was the result of a long and intensive dialogue between the Latvian and Indian officials and business representatives.

The first Latvian-Indian joint venture, Bhandar, was founded in late 2015. Its owners are Indian citizen Arpita Chakravarty and the Latvian company Kundzinsalas Ziemelu Projekts, each holding 50 percent in the company.