A competition is being launched to find an architect and design concept for a new gallery in Riga, Latvia – an ambitious project that aims to create the top cultural attraction in the Baltic region.

The Latvian Museum of Contemporary Art will be home to a collection of art from Latvia and the Baltic countries from the 1960s to the present day.

It’s hoped that the €30m (US$32m, £21m) art museum will become a cultural icon for the Latvian capital. Competition judges will be looking for a design for an "architectural tour de force" that uses "environmentally sustainable solutions that attract international interest and acclaim."

The architectural competition will be a six-month process, overseen by London-based Malcolm Reading Consultants. International architects are sought, but Latvian architects are to be involved in drafting the competition offers, as well as working with the winning team of architects.

The organisers will be issuing the portfolio statement to longlisted teams this week. The shortlist announcement will be in January and the competition winner will be announced in May 2016.

"We are honoured to undertake this project of such great importance to Latvia," said the consultancy’s chair, Malcolm Reading.

"This project gives architects the opportunity to design a building on an exceptional site within easy reach of the heart of the capital. Right now, as far as European capital cities are concerned, this is a rare opportunity."