News
The buoys of the Port of Ventspils are becoming more up-to-date
At the end of the year, the project „Development of Transport and Port Communication Systems” (Trans-Port), co-financed by the European Regional Development Fund, is winding up. Within the framework of the project, a number of activities aimed at the improvement of the Port of Ventspils communication systems were carried out, and as a result, a part of navigation buoys in the Port of Ventspils and adjacent waters are being equipped with an automatic identification system (AIS).
Cargo turnover in November increased for 23%
Cargo turnover at the Port of Ventspils has increased by 6%
A contract on appropriation of LVL 3 million in ERDF co-financing for building a solid wood panel Dendrolight® production unit signed
On February 18th, 2010, at Free Port of Ventspils Authority, Dendrolight Latvija Ltd signed a contract on appropriation of LVL 3 million in co-financing for implementation of the project „Dendrolight – building a solid wood panel production unit”. The financial support from European Regional Development Fund (ERDF) will cover about 15 % of the total investment.
DendroLight® solid wood cell panel is a unique material with exceptionally high market potential. Ventspils will host the first specialized production unit of this material in the world.
Owing to the Investment and Development Agency of Latvia (LIAA) which understood the urgent necessity to start building new production facilities in Latvia and modernizing those already existing, companies were able to begin the implementation of their projects immediately after they had submitted their project applications for receiving financial support in autumn 2009. Therefore already in September last year the company signed a contract on purchasing the equipment.
After signing the contract on the ERDFsupport for the implementation of the project, the resources will be channeled to cover the purchase expenditure on equipment. It is planned to complete the entire uptake of the financing by mid-2012, when the company will have already started manufacturing of solid wood panels, by employing 70 workers. The production process is scheduled to be launched in July 2010.
A significant support in the implementation of the project of Dendrolight Latvija Ltd is being given by Ventspils City Council and Free Port of Ventspils Authority which will provide the company with a possibility of taking on lease new, suitable for the needs of this unique factory, premises and necessary infrastructure, investing thereby about LVL 7 million. Dendrolight Latvija Ltd will have a 15-year term to repay the investment made by Free Port of Ventspils Authority.
Thanks to a very good and lasting collaboration, the implementation of the project was made feasible by the confidence in a novel and innovative project rendered by the state-owned joint stock company „The Mortgage and Land Bank of Latvia”, which issued a loan for the implementation of this project. Thus, the support appropriation from LIAA will not reach the company directly, but it will be used for the repayment of the loan received for the implementation of the project.
Indirectly, jobs will be provided for many people employed in preprocessing of wood, employees of transport companies, and the working population of Ventspils involved in other service sectors. Launching the actual production operation of Dendrolight Latvija Ltd could increase the volume of export for one of the most exportable industries of Latvia by as much as 5-7 % per year.
Contacts
- Free port of Ventspils authority
- Jana street 19, Ventspils, LV-3601, Latvia
- Phone: +371 636 22586
- Fax: +371 636 21297
- E-mail: marketing@portofventspils.lv