Riga Panoramic wheel operator hopes for more than 100,000 visitors a year / day

He said it was planned to recoup the project over EUR 10 million in five to ten years.

At the same time, Uspensky explained that the panoramic wheel is a fully designed and manufactured object, which is also certified and the « RPR operator » is the owner of this project patent. Therefore, Uspensky expressed the hope that this product would also be offered to exports.

Uspensky said there were already negotiations with potential project buyers abroad, but did not disclose the number or the countries, pointing out that it was too early to talk about it.

« Certification of the wheel is already a step towards exports, we hope the product will be competitive in the global market. It will be a positive result if we manage to sell and install at least one panoramic wheel outside Latvia, » said Uspensky.

He emphasized that many Latvian companies participated in the design and production of a panoramic wheel, because each has experience in their field. Unfortunately, at the very beginning of the project, seven years ago, the RPR operator also faced disbelief from some companies and refusals to participate in the project.

Kristian Rimkus, Chairman of the Board of the Metal Structures of the Metal Structures of the Panoramic wheel, told LETA that if the RPR operator succeeded in implementing a panoramic wheel project abroad, the Wemp engineers would be happy to participate in this project, as each project always has possible improvements.

Similarly, the Wemps would be ready to be present in the selection and manufacturing process of a new wheel manufacturer, Rimkus said.

It has already been reported that the panoramic wheel will be suitable for use at all times of the year, as its cabins are equipped with both air conditioning and heating equipment. It will be able to accommodate 240 passengers at a time – eight in each of the 30 cabs. One ride with a panoramic wheel will last 15 minutes.

There will also be an opportunity to see a digital exhibition created in collaboration with the art center « Zuzeum » and provide a new view of Riga in ancient maps and engravings of the city, in the 20th century posters and posters, as well as the original works of various artists on the theme of Riga.

The total height of Riga’s panoramic wheel is 65 meters.

The right to build a panoramic wheel « RPR operator » in the autumn of 2019, as the only bidder to win at the auction organized by the Riga City Council. The bid was 22,484 euros. Prior to that, the council, led by the then, the capital’s mayor Oleg Burova (GKR), with 42 votes out of 60, had decided to organize such auction.

The agreement with the City Council provided for the construction to be completed within three years, but the construction project was delayed by the pandemic, and the documents were in coordination for more than a year in the Construction Board, so the deadlines were extended.

The company « RPR operator » was registered in 2018 and its share capital is 2801 euros, according to Firmas.lv information. 55.05%of the company is owned by the RacoonStruction Holding Limited, which is owned by Rustam Gilfanov, while 44.95%is owned by Panoramica Ltd., owned by Darya Uspenska (47.93%), Dmitry Uspensky (47.89%) and Anatoly Predkel (4.18%).