On approval of European Union grant project and signing of the grant agreement.
We hereby inform that on 16 July 2014, JSC “RIGA ELECTRIC MACHINERY FACTORY” (JSC “RER”) and Latvian Investment and development agency (LIAA) signed agreement No.L-APV-14-0125. The agremeent stipulates that LIAA will support JSC “RER” investment project “Jaunu elektromašīnbūves produktu ieviešana ražošanā” (Launch of new electrical engineering products) within the framework of European Regional Development Fund (ERDF) support program “High value-added investments”. Project application identification No.APV/220.127.116.11.0/14/04/017. The project application was approved by LIAA 30 June 2014 ruling No.18.104.22.168./4715SF. Total Project investment 1.48 million EUR. Total ERDF co-financing 425 448,59 EUR. The aim of the project is to purchase new machinery for expanding product range and introducing three new products. The project will expand the use of the research capabilities of the company.
JSC “RIGA ELECTRIC MACHINERY FACTORY” The Board