Russian builder launches first yacht at Latvian yard

Russia-owned boatbuilder Latitude Yachts has completed the construction of its first yacht, a trimaran, at the company’s shipyard in Sarkandaugava, within the Freeport of Riga, in Latvia.

The craft is the first of two yachts being built at the Russian firm’s facility in Latvia. Both have a length of 53m (174ft), according to Russian news site Portnews.ru.

“We are pleased that … Latitude Yachts production facilities are located [within the port of] Riga,” said Inita Luna, the director of the environment and development department of the Freeport of Riga. We “try to support … companies [such as] Latitude Yachts which is focused on high value-added production. Creation of such undertakings on the Freeport territory shows that there is a favourable environment, providing a positive signal for both local and foreign entrepreneurs and investors.”

The Latvian shipyard employs around 200 and, depending on the season, its workforce is periodically expanded to up to 500 employees. Latitude Yachts says its facilities are ISO 9001-certified.