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Joint venture to refurbish Riga station

01 Jul 1998

REFURBISHMENT work is getting under way on the Central Railway Terminal in the Latvian capital Riga. The project is being undertaken by a Latvian-Norwegian joint venture at a cost understood to exceed US$6m.

At the end of last year LDZ awarded a 10-year concession to the Varner Hakon Invest joint venture which links Norwegian construction company Hakon Gruppen AS with the multinational Varner Baltija consortium.

Selected by competitive tender, VHI has been appointed as lessee-general for the station complex, with the right to develop a variety of retail and commercial opportunities in order to recoup its investment in the refurbishment project.

Due to be completed in time for the capital's 800th anniversary celebrations in 2001, the refurbishment which started in April includes modernisation and rearrangement of the station offices, changes to the main facade, and installation of escalators leading to and from the platforms. A series of retail outlets will be developed within the public areas of the station.

VHI has also agreed a lease on the square outside the terminal buildings, which will also be upgraded. Amongst the proposals under consideration for this area are a three-storey underground car park and a major grocery store. o