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TGS Baltic Assists the University of Latvia with EIB Investment

TGS Baltic Assists the University of Latvia with EIB Investment

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TGS Baltic has assisted the University of Latvia regarding the EUR 30 million investment contract of the European Investment Bank for the further development of the university's new campus in Riga, called the “Academic Centre.”

The University of Latvia is the largest institution of higher education in Latvia; it concentrates the leading study and research potential of the Republic of Latvia in natural sciences, humanities and social sciences.

The European Investment Bank (EIB) is the European Union's bank, which works closely with other EU institutions to implement EU policy. EIB is the world’s largest multilateral borrower and lender, and is a large investor both in Europe and around the world.

According to TGS Baltic, this marks the first time the EIB has lent directly to a higher education institution in the Baltic States, and its investment constitutes "a crucial part of the Investment Plan for Europe, the so-called 'Juncker Plan.'"

According to TGS Baltic, "The construction process for the Science House, which will bring together the institutes of science, part of the faculty of medicine, and the faculty of physics, is already under way in the Academic Centre. The total area of the building will be 20,000 square meters, providing a workspace for up to 2000 students and 500 employees. The Writing House will accommodate humanities and social sciences faculties as well as science institutions specialized in these fields. The total area of the building is planned to be 32,000 square meters, while up to 11,000 students and 1100 employees will work there. In 2015, the new Academic Centre celebrated the opening of the Nature House, which houses the chemistry, geography and land sciences and biology faculties, and hosts the laboratories of six research centers of national importance."

The TGS Baltic team was led by Partner Inese Hazenfusa, supported by Associate Mara Stabulniece.

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