Officials at "Rigas kugu buvetava" JSC, also known as Riga Shipyard, based in Riga, Latvia, said recently that increased competition in the ship-repair services segment and construction of new vessels have prompted JSC to shift its focus to the production of large-size metal structures (tunnels, bridges), Janis Skvarnovics, JSC's board chairman, said.
Skvarnovics said that currently, orders for large-size metal structures, including tunnels, in the area of construction services come from Europe rather than from Latvia, but he said that in this perspective, once construction of Rail Baltica begins, local orders may start coming in as well.
Riga Shipyard's economic performance during the first six months of the year is almost equal to that of all of 2014.
Officials said Riga ended 2014 with a loss, while the first six months of this year already show a small profit of $371,949, compared with a loss of $1.06 million for the first six months of 2014.
,
More Stories
- ARIZONA DEPARTMENT OF TRANSPORTATION: Governor Ducey issues Executive Order further extending expiration of driver licenses
- AMERICAN AIRLINES: Cleaning with a Purpose, American Airlines Earns GBAC STAR Accreditation from the Global Biorisk Advisory Council
- AIRLINES FOR AMERICA: Statement from A4A President and CEO Nicholas E. Calio
- ARIZONA DEPARTMENT OF TRANSPORTATION: ADOT distracted driving campaign raises awareness
- ARIZONA DEPARTMENT OF TRANSPORTATION: Drivers get break from state highway closures through early January
- AMERICAN AIRLINES: American’s AAdvantage Program Reveals Elite Choice Rewards for Platinum Pro and Executive Platinum Members
- ARIZONA DEPARTMENT OF TRANSPORTATION: Donor Network of Arizona honors two MVD employees with awards
- AMERICAN AIRLINES: American Airlines Names Meghan Montana Vice President and Treasurer
- ALBERTA TRANSPORTATION: Building roads to economic recovery
- AIRLINES FOR AMERICA: Airlines for America Applauds the Department of Transportation’s Final Rules on Traveling by Air with Service Animals