OP Corporate Bank to finance the Krievu Sala Project for the Port of Riga
The open tender to attract EUR 77 million of loan funding for the “Krievu Sala Infrastructure Development for Relocation of the Port Operation from the City Centre” project organised by the Freeport of Riga Authority has been closed. The winners of the tender are OP Corporate Bank and SEB Banka AS, who offered the most advantageous credit terms.
Elmārs Prikšāns, Head of OP Corporate Bank plc Latvia Branch, commented: “OP Bank is the fastest growing financial partner for Latvian companies, contributing to their growth and sustainable development. We appreciate the fact that by continuing our long-standing and successful cooperation with the Freeport of Riga Authority, through combined efforts we will enhance the development of the port infrastructure. Alongside railways and motor roads, the port is an essential element of the circulatory system of the national economy. We are convinced that this transaction will help the port of Riga to become a Baltic leader and facilitate its contribution to the economic growth of Latvia.”
In 2013, Nordea AB and OP Corporate Bank granted a EUR 80.2 million loan for the most ambitious infrastructure project in the port’s history, which is being implemented with EU Cohesion Fund co-financing. The loan conditions provided for its refinancing in five years, and at the beginning of this year RBP announced a new open tender to attract loan funding.