Project Description
The project consists of building and operating a new multi-purpose/intermodal terminal in the Port of Ventspils (Latvia) to serve the demand for general cargo traffic in the Baltic Sea and to promote Ventspils as a gateway to Russia.
The project aims to support the development of an efficient, state-of-the-art, multi-purpose/intermodal terminal, enhancing the service standards offered to trading companies and shipping lines in the region through commercially operated facilities under private management and control at the port of Ventspils.
Transition Impact
The project is expected to lead to:
Greater competition in the project sector: The new terminal will introduce efficiency, innovation and a better service for customers through modern management techniques. The continuity, reliability, and high quality of the services will enhance competition for general cargo handling, especially containers, in Latvia and throughout the Baltic Sea region.
Private ownership: The project will increase private sector involvement in the development of Latvian ports, demonstrating effective private-public cooperation at work and commercially oriented cargo-handling operations. In addition, Noord Natie will introduce high standards of corporate governance in the joint venture company, thus achieving a significant development of skills.
The Client
Noord Natie Ventspils Terminals LLC is a joint venture between Noord Natie nv and Ventplac LLC. Noord Natie nv (a Belgium-based company established in 1882) will contribute its substantial international experience in port operations, particularly the management of high-quality container terminals, as well as its established sales and marketing network.
EBRD Finance
A loan of US$ 21.2 million (EUR 19.8 million), part of which will be syndicated to commercial banks.
Project Cost
US$ 32.0 million (EUR 29.9 million)
Environmental Impact
This project was screened B1, requiring an environmental analysis and audit. An initial environmental site investigation identified the key environmental issues associated with the project and is the basis for the project screening. Issues such as compliance with national and EU/World Bank environmental and health and safety standards, potential environmental liabilities from past operations on site and local requirements of the relevant authorities were included. The environmental analysis and audit required for B1 projects was carried out and an Environmental Action Plan (EAP) was developed and agreed with the Port Authorities and the City Council, addressing all major issues prior to submitting the project to the EBRD’s Board of Directors. The EAP meets the Bank’s requirements and will be formally agreed with the client prior to project implementation.
Technical Cooperation
None
Business opportunities
For business opportunities or procurement, contact the client company.
For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com
General enquiries
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com
Public Information Policy (PIP)
The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP
Independent Project Accountability Mechanism (IPAM)
If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).
IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.
Please visit the Independent Project Accountability Mechanism webpage to find out how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.
