RIGA, April 13 (LETA) - Riga and Ventspils ports will be turned into capital companies shares in which will be held by the state and can be held by the local government, according to the Cabinet of Ministers decision, sending amendments to the law on ports to the parliament.

After the law takes effect, the state and local government will have nine months to agree on establishment of capital companies to operate Riga port and Ventspils port.

On behalf of the government, shareholders will be the Transport Ministry (40 percent), the Finance Ministry (20 percent), the Economics Ministry (20 percent), and the Environment Protection and Regional Development Ministry (20 percent).

The local government may have the right to get shares into the capital company, but the state should control not less than two thirds of the shares.

Ventspils vice mayor Guntis Blumbergs (For Latvia and Ventspils), and representative of port operators, Lauris Liepa from Cobalt lawyers' office called to postpone the decision on the issue, saying that broader discussion on the matter is necessary. The government noted that discussions will still be possible while the bill is revised by the parliament in three readings.