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Development of district heating system in Ventspils, Latvia 2005/LV/16/C/PE/001

Development of district heating system in Ventspils, Latvia 2005/LV/16/C/PE/001. Procurement procedures (I). Procurement procedures (II). Negotiation procedure for project crediting. Economic crisis influence on crediting market

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Development of district heating system in Ventspils, Latvia 2005/LV/16/C/PE/001

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  1. Development of district heating system in Ventspils, Latvia 2005/LV/16/C/PE/001

  2. Procurement procedures (I)

  3. Procurement procedures(II)

  4. Negotiation procedure for project crediting • Economic crisis influence on crediting market • Negative influence of decrease of Latvia’s credit rating to BB • Planned to take syndicate credit,including EIB, NIB financing • Multilateral financial institutions (EIB, NIB) need more time (3-4 month) to make a decision to give a credit

  5. Updated Project implementationtime schedule (I) March 2009 2nd stage of increasing the share capital executed 2009. II quarter credit negotiations 2009. II quarter planed to sign the contracts (after confirmation that credit will be granted)

  6. Updated Project implementationtime schedule(II) If contracts are signed in April 2009: 2010.II quarter Completion of junction construction (according EC decision – 30.04.2009) 2010.III quarter Completion of reserve boiler house construction 2011.IV quarterCompletion of construction of CHP Plant (contract completion period -32 month) (according EC decision – 30.11.2009)

  7. Time schedule

  8. Unsolved issues • Explanation about possibility in the beginning of the project to declare all costs as eligible in order to spend allowed amount of eligible costs (at least 47 952 345 EUR) till end of 2010 • Prolongation of project deadline

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