Ministry of Transport to Compensate Road Builders for Sharp Bitumen Price Increase

The Ministry of Transport (SM) has informed that state road construction companies will receive compensation for the sharp increase in bitumen prices. Bitumen is a key material for road paving, and its price has risen sharply recently, mainly due to global oil product market fluctuations.

The ministry stated that the compensation aims to support road construction enterprises so they can continue ongoing infrastructure projects without additional financial strain. The exact amount of compensation and the disbursement procedure are yet to be specified, but it will be part of state measures to stabilize the construction sector.

The rise in bitumen prices has affected not only Latvia but also other countries, creating challenges in road construction projects. This step by the SM is intended to ensure that road building is not delayed and that contracts are fulfilled as planned.