RIGA, Feb 11 (LETA) - Ventspils municipality will ask President Egils Levits not to promulgate amendments to the Law on Ports, changing administration model for Ventspils and Riga ports, LETA learned from Ventspils council chairman Janis Vitolins (For Latvia and Ventspils).

The local government is also considering several legal aspects and even a possibility to turn to the Constitutional Court.

Vitolins said that the Saeima has ignored the proposals of the local government, and as a result, the local government will lose any chance to act with its property.

Vitolins said that as a result of the law, the Ventspils Freeport Administration's property worth EUR 170 million, developed in a period of 25 years, will go into the ownership of the state, while the municipality, in order to participate in the property and obtain a 40 percent stake, will have to invest another EUR 113 million. The local government believes that this is an unfair decision. It is not clear either, what the rights and influence of the minority shareholder will be.

As reported, the Saeima supported in the final reading amendments to the bill to the law on ports last night, changing administration model for Ventspils and Riga ports.

The legislative amendments stipulate that Riga and Ventspils ports will be turned into state-owned companies.

In both ports, the state will hold not less than 60 percent stake, and local governments - not more than 40 percent stake.

According to the amendments, the Ministries of Transport, Finance, Economics and Environmental Protection and Regional Development would be holding shares in the port companies on behalf of the state. The Transport Ministry will hold a 40 percent stake, and the Ministries of Finance, Economics, as well as Environmental Protection and Regional Development would each hold 20 percent in the state capital companies.

Private companies operating at the ports will be offered to join consultative councils of the ports' authorities, which will enable the companies to get involved in the ports' development and maintain dialogue with the ports' authorities.