Lithuania has signed a contract, worth 12 million euros, to build a workshop for infantry fighting vehicles (IFVs) in Rukla, Jonava district. The workshop, which would repair armoured tracked and wheeled vehicles, trucks and equipment, would be built in the territory of the Lithuanian Grand Duke Algirdas Mechanised Infantry Battalion, the Defence Ministry announced in…
In the first quarter of 2022, the construction price index increased by 4.6% QoQ and by 19.3% YoY, Statistics Estonia said on April 21. In the first quarter of this year, compared with the first quarter of 2021, the construction price index was influenced primarily by the rising cost of materials, which accounted for 86%…
Construction work continues expanding within Latvia’s road network. Most of the work is done on regional roads. Motorists are urged to use alternative roads to bypass sections under construction. The biggest road traffic restrictions are on the section of Riga-Ergli (P4) regional road from Riga bypass (A5) all the way until the turn to Tinuzi;…
Both due to the surge of the cost of construction materials and the war in Ukraine, construction company Merks has projects in which it has major difficulties to progress within the limits of previous costs detailed in contracts. All this causes major losses, says Merks board chairman Andris Bismeistars. He explained that last year there…
Political parties forming the government have conceptually agreed to initiate construction of a liquefied gas terminal (LNG) in Latvia, Prime Minister Krisjanis Karins has said at a press conference after a meeting of coalition parties. The PM said the Ministry of Economics was ordered to work with potential investors to assess who would build the…
Construction companies in Georgia will be offered a state package for long-term financing plans to boost the sector, Georgian Prime Minister Irakli Garibashvili announced on March 28. Announcing the initiative that would offer the developer companies new financing plans within the upcoming week, the PM said it was aimed at boosting economic growth. Additionally, a…
The Estonian Association of Construction Entrepreneurs has sent a letter to the Ministry of Finance in which it threatens to terminate public sector construction contracts signed before Russia’s invasion of Ukraine, if the state is not willing to pay more for ongoing projects. The address suggests current material prices make it impossible to finish the…