EU may provide EUR 3 billion for Rail Baltica II project
Published: Wed, 2015-02-25 16:17Latvia will appeal to the European Commission for the provision of funds in the volume of 240 million euros on the design of a preliminary documentation for the Rail Baltica II project, according to press service of the Ministry of Transport of Latvia.
Preliminary survey of the project was commissioned by Estonia, Latvia and Lithuania and completed by the UK Aecom Ltd enterprise.
According to calculations of Aecom, the volume of investments in the building of a new rail line will reach 3.68 billion euros.
There is a possibility that up to 85% funds for the project will be provided by the European Union.
Total length of the new line will be 728 km, of which the line’s length on the Lithuanian side will be 264 km, while in the Latvian - 235 km, as well as 229 km in Estonia.