RIGA, June 1 (LETA) - Riga municipal heat supply company Rigas Siltums plans to invest in the construction of three biofuel boiler houses, Normunds Talcis, the chairman of the company's board, said at a press conference today.

Talcis informed that it is planned to build a biofuel boiler house with a capacity of two megawatts (MW) at Bauskas Street 207A. It is planned to invest 1.2 million euros in the construction of this boiler house.

It is also planned to build a boiler house of similar capacity at Nautrenu Street 24. 1.2 million euros are also needed to build this boiler house.

4.9 million euros are needed for investments in the heating plant Vecmilgrāvis, increasing the share of biofuel in this heating plant from 63 percent to 85 percent. The capacity of the boiler house is 8 MW.

Talcis informed that the profit earned in the previous financial year will be invested in the development of the company.

As reported, the company's turnover for the financial year 2020/2021 was EUR 146.5 million, which is 4 percent or EUR 5.4 million less than a year earlier.

The company's profit was EUR 5.4 million, which is 66 percent or EUR 10.2 million less than in the previous period.