RIGA, Aug 9 (LETA) - Rigas Satiksme municipal public transport company and the Central Finance and Contracting Agency (CFLA) on co-funding for a EUR 55.2 million worth tram infrastructure project, LETA learned from Rigas Satiksme's spokeswoman Baiba Bartasevica-Feldmane.

Financing from the Cohesion fund is 85 percent or EUR 38.78 million.

The project provides for reconstruction of certain sections of the Riga tram infrastructure making them suitable low-deck trams.

As reported, Rigas Satiksme closed 2021 with EUR 161.117 million in audited turnover, down 7.1 percent from a year before, while the company's profit grew 3.1 times to EUR 3.049 million.

Fully owned by Riga City Council, Rigas Satiksme provides bus, tram and trolleybus services to passengers in Riga.