RIGA, Dec 10 (LETA) - The Riga Freeport Administration has adopted next year's budget, projecting turnover at EUR 39.4 million and a positive financial result, Riga Freeport Administration representative Liene Ozola reported. 

Cargo turnover is expected to grow by 11 percent or 2.3 million tons to about 23 million tons.

Ozola explained that the budget has been drafted with caution - revenue at the lowest forecast value and expenditure at the highest forecast value.

Next year the port plans EUR 19.45 million investments in internal infrastructure. Of this sum, one third is the EU funding attracted by the Riga port.

Also, almost EUR 1 million will be invested in digitalization and development of IT.

As every year, 10 percent of port fees, estimated at about EUR 2.5 million, will be paid into the Riga municipal budget.

As reported, the Riga Freeport in the first 11 months of this year reloaded 19.407 million tons of cargo, down 11.4 percent from the respective period last year.

Riga is the largest Latvian port by cargo turnover and also by the number of ship passengers.