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HomeLatviaVentspils to develop new industrial park for EUR 17 million

Ventspils to develop new industrial park for EUR 17 million

Ventspils City Council at an extraordinary meeting on Tuesday approved Ventspils Osta municipal institution’s plan to conclude an agreement with the Central Finance and Contracting Agency (CFCA).

The project aims to develop the industrial park’s infrastructure that would facilitate the attraction of private investment and the creation of new jobs with high added value, as well as promote the concentration and development of green energy and smart specialization companies in Ventspils. The project aims to create the conditions for the development of the industrial park on an area of approximately 525 hectares (ha).

The project’s developers are determined to attract investors who would make non-financial investments of at least EUR 31 million and create at least 115 new jobs.

Ventspils Osta is expected to implement the project for a total amount of no more than EUR 17.06 million, including EUR 12.89 million in eligible costs, of which the European Union’s Recovery and Resilience Facility will provide 77.58 percent, or EUR 10 million.

The activities of Ventspils Osta are planned at EUR 8.18 million, the activities of the municipal company Udeka are planned at EUR 791,116, and the activities of the municipal company Ventspils Siltums are planned at EUR 1.03 million.

Co-funding from the Ventspils local government is planned at 22.42 percent of the eligible costs, or EUR 2.89 million.

The project’s ineligible costs are planned at EUR 3.52 million.

Source: BNS

(Reproduction of BNS information in mass media and other websites without written consent of BNS is prohibited.)


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