€200 million for latest phase of Riga airport expansion

An impression of the expanded terminal building at Riga International Airport, with the proposed Rail Baltica Terminal. Image: RIX

The primary focus of the latest reconstruction phase is the expansion and modernisation of the airport’s 50-year-old terminal building.

Construction work on the terminal is expected to last 36 months, with construction of the Rail Baltica station at the airport projected to reach completion at around the same time.

New access roads, a direct connection to the Rail Baltica station and a multi-story car park are also included in the proposed scope of work.

The airport’s sustainability strategy, running up to 2030, outlines a range of initiatives focused on achieving climate neutrality, including the phasing out of diesel and petrol-powered transport in favour of hybrid or electric alternatives.

RIX Airport City

Additionally, the RIX Airport City initiative, located on a 24-hectare parcel adjacent to the railway station, is a proposed €300 million project intended to boost the local economy.

Subject to investment negotiations, the initiative will see the area provide traditional aviation services, but also develop businesses offering multimodal transport options.

Laila Odina, the chairwoman of the airport’s board, revealed that the facility is considering various financing models for the proposed projects.

On the terminal expansion project, Odina said, “I think that a decision on the financing model will be made in the next month. The positive news is that everybody wants to work with us and is making offers. This means that our business plan is viable and we can plan to pay back the borrowed money in the long term,”

Following a decision on the financing model, the airport is expected to put out its first tender for construction work within the next two months.