“In the next four years Latvia will become the central logistics centre in the Baltic States,” says Valdis Turlais, the country managing director at Rimi Latvia, referring to one of the largest logistics investment projects in the Baltic States.
Total investments in the project equal 75 million euros, which over the coming four years will be used for the construction of a modern logistics centre and manufacturing sector. The project will generate 600 new jobs, increase inventory turnover in Latvia and the Baltic States and have a positive influence on Latvia’s economy.
“In addition to the fact that all three Baltic States already cooperate effectively in the realm of logistics, this extensive investment project will allow Riga to become the central logistics point, thereby positively influencing Latvia’s economy for several years to come. But for Rimi this is another step towards expanding and modernising the company. It has specifically chosen Latvia as the location of this project both for its convenient location and because the country’s current government policy is favourable for attracting such an ambitious investment,” says Turlais.
The new logistics centre will be a significant step in the development of the company, and in coming years it will generate 600 new jobs for the labour market. It is estimated that once the project is finished in 2022, Rimi will be adding 46% more tax revenue to the Latvian state budget than it did in 2015. The expansion of the Rimi warehouse will also have a positive impact on the construction sector, which will enjoy an influx of approximately 60 million euros. This sum will, of course, also mean additional tax revenues for the national budget from builders and their partners.