In April, Latvian state company Latvian State Roads (LVC) received letters from all major construction companies engaged in road construction procurements. Construction companies outlined in letters they are unable to do their jobs at the prices that were proposed before February 24, when Russia invaded Ukraine. The offers received in procurements in March and April…
Georgia will launch a large-scale government program for construction of public infrastructure facilities in installments, Prime Minister Irakli Garibashvili has said at a government meeting. According to the PM, the government intends to act as a guarantor to banks for construction companies, and then, within 3 to 5 years, to return the money to the…
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…