Estonia: Finance Minister suggests listing RB Rail on stock exchange

Estonian Finance Minister Mart Võrklaev suggested floating the company coordinating the Rail Baltica railway project, RB Rail, on the stock exchange to raise more funds amidst rising construction costs, ERR reports. Construction costs in Estonia alone are estimated at EUR 3.1bn, with EUR 1.2bn secured from EU funding. Võrklaev said that the government expected to have over EUR 2bn of EU funding for the project, which would leave a shortfall of around EUR 900mn. He suggested that taking the company public could attract investment. Climate Minister Kristen Michal has proposed borrowing the required funds.