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22.09.2014
Riga Coal Terminal establishes strategic cooperation with China Harbour Engineering Company realization of investment project in Freeport Authority of Riga (Krievu Island)

On September 19, 2014, a memorandum of strategic cooperation was signed between Riga Coal Terminal and China Harbour Engineering Company (CHEC) in Beijing, China, for the implementation of the investment project and the development of specialized port infrastructure in the territory of Riga Freeport (Krievu Island). The parties agreed that a specific model of cooperation would be defined until the end of this year.

“The development of infrastructure on Krievu Island is meant to transfer port activities from the city centre, which is one of the main priorities for the Freeport Authority of Riga. Acting pursuant to Riga Port Development Programme 2009-2018, Riga Coal Terminal seeks to realize the investment project in cooperation with CHEC. This cooperation will increase cargo turnover in Riga port and improve Latvia’s transit corridor,” says Mr Raivis Veckāgans, Chairman of the Board.

Founded in 1980, China Harbour Engineering Company (CHEC) is a subsidiary of China Communications Construction Company (CCCC), one of the Global Fortune 500 companies. CHEC is the world leader in marine, port and civil engineering and related infrastructure design and construction works. In 2013, CHEC operating revenues exceeded $7 billion USD. With more than 10,000 employees, CHEC is represented in more than 60 locations worldwide. More information: www.chec.bj.cn

Riga Coal Terminal is a joint venture between LLC “Riga Commercial Port” and Swiss company "MIR TRADE AG", which currently holds a leading position on the international coal market. More information: www.mirtrade.ch. RTO is the largest investor, developer and operator of port facilities and transportation related companies in Latvia. More information: www.rto.lv