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Rail Baltica joint venture agreement will be signed soon
Published: Fri, 2014-10-10 09:40- Likes 1
Latvia, Lithuania and Estonia have decided to sign the Rail Baltica joint-venture treaty in Riga in mid-October 2014, reported LETA/Nozare.lv, referring to the Transport Ministry. The agreement will be sign by the transport ministers of the three countries.
Rail Baltica project is constructing a new 1435 millimeter standard-gauge railroad in the Baltic countries. The implementation of project could cost EUR 1.27 billion to Latvia and EUR 3.68 billion to the Baltic States altogether.
It is possible that the European Commission soon approve to co-fund 85 percent of the project's costs. The request for funding will be submitted to the European Commission in 2015, so construction of the railroad could begin in 2016.
The new railway line has been planned to connect Helsinki, Tallinn, Riga, Vilnius and Warsaw with the extension to Berlin
Source: LETA/Nozare.lv