OP Corporate Bank plc Grants Financing for a Logistics Terminal at Riga Airport

The owners of SIA “REX Terminal” are Finnish companies Castor Real Estate Oy and Veikko Laine Oy, which operate in Latvia on a long-term basis and have previously implemented other real estate projects with the support of OP Corporate Bank plc Latvian branch.

“One of our goals as a Finnish bank is to support Finnish companies’ investment projects in Latvia by participating in the financing and implementation of significant development projects. We highly value the opportunity to expand our cooperation with our long-standing client through this project. Such projects strengthen economic cooperation between Finland and Latvia while developing Riga’s potential as a regional logistics hub,” says Elmārs Prikšāns, General Manager of OP Corporate Bank plc Latvian branch.

“When we chose to develop the terminal specifically in the territory of Riga Airport, we saw the strategic potential of this location even before the more rapid development and transformation of the airport area began. It was also the first superficiary agreement in the airport area. Geographically, Riga is located at an important crossroads between the Baltic and Nordic countries, and the airport area is gradually strengthening its position as a significant logistics and cargo handling hub in the region. This is also confirmed by the fact that DHL Express Latvia has been operating at the terminal since its establishment,” says Jānis Milzarājs, co-owner of Castor Real Estate Oy.

OP Corporate Bank plc is part of OP Pohjola, the largest financial services provider in Finland. It began operations in Latvia in 2012 and is currently one of the leading banks in Latvia in terms of loans granted to medium-sized and large companies. The Latvian branch of OP Corporate Bank plc provides financial services to leading companies in Latvia and plays an important role in the long-term development of both the country and the wider region.