Turkish-owned Liepaja Steel has abandoned plans to resume production at its steel plant in the Latvian city of Liepaja, LETA reports. The company will dismantle the plant’s steel melting furnace and move the machinery to Türkiye. Liepaja Steel failed to reach agreement with the Liepaja city council and the Liepaja Special Economic Zone (Liepajas SEZ)…
Lithuanian commercial banks and other credit institutions are due to pay a total of over EUR 50mn in temporary solidarity tax by 31 August 2023, BNS reports. Banks will have to pay the full tax for 2023 by 15 June 2024. The tax is calculated based on net interest income that exceeds the average income…
Lithuanian President Gitanas Nauseda will make efforts to ensure that Germany’s brigade is deployed to Lithuania by 2026, according to his chief foreign policy adviser, Asta Skaisgiryte, BNS reports. Germany’s chief of defence, General Carsten Breuer, said that Germany would begin deploying the brigade in early 2024. Nauseda met with Breuer in Vilnius to discuss…
Estonia’s electricity distribution system operator, Elektrilevi, plans to double investments in its networks to EUR 1bn over the next five years, ERR reports. Also, the state will invest around EUR 13mn in making the electricity infrastructure on the islands of Hiiumaa, Muhu, and Saaremaa more weather resistant. Elektrilevi will invest EUR 4mn to replace over…
Latvia’s Riga City Council has elected New Unity’s Vilnis Kirsis as the capital city’s new mayor, LETA reports. Kirsis named street renovation, construction of new housing, and investment in education as his policy priorities. Kirsis served as acting mayor after the resignation of Martins Stakis, who represented the Progressives and Movement For, in early July…
Latvia’s construction output increased by 16.1% in the first half of 2023 compared to the same period of 2022, according to the Central Statistical Bureau’s calendar-adjusted data at constant prices, LSM reports. Construction of buildings rose by 23.2%, specialised construction activities by 17.5%, and civil engineering works by 2.6% over a year. In the second…
The Lithuanian government has allocated EUR 276mn from borrowed funds for military mobility and infrastructure projects in 2023, BNS reports. Finance Minister Gintare Skaiste said that the Defence Ministry would invest EUR 148mn and the Ministry of Transport and Communications another EUR 128mn in the first year of the investment programme. Total investments in military…
Joint policy coordination among the three Baltic States was crucial in the current geopolitical situation, Latvian President Edgars Rinkevics stated, LETA reports. Speaking during an official visit to Lithuania, Rinkevics noted that Latvia and Lithuania shared common interests in terms of EU and NATO policy, strengthening security and defence capabilities, ensuring energy security and independence,…
Latvia’s electricity transmission system operator, Augstsprieguma Tikls (AST), plans to invest EUR 509.8mn in the transmission network in 2024-2033, LSM reports. EU support will cover EUR 135.8mn of the total sum. AST will invest in the infrastructure and management technologies of the electricity transmission network to prepare for the synchronisation of the Latvian power grid…