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…
The Lithuanian government has granted special status to German arms manufacturer Rheinmetall’s planned artillery ammunition plant in Radviliskis district, BNS reports. The designation allows the company to begin construction of the plant without the standard construction permits, which must be obtained before completion. The plant, which will be named the Lithuanian Centre of Excellence for…
Latvia’s Riga International Airport (RIX) served 3.2mn passengers in the first half of 2024, which was 4% more than in the same period of 2023, LSM reports. The number of passengers now exceeds the pre-pandemic indicators. RIX accounted for 40% of the total number of passengers and 38% of flights served at all Baltic airports…
The volume of transit shipments of cereal products from Russia via Latvia totalled 994,726 tonnes in the first half of 2024, which was up 39.3% from 714,097 tonnes in the same period of 2023, according to data from the State Revenue Service (VID), LETA reports. Wheat and maslin accounted for 598,705 tonnes of the total…
Czech company Skoda Vagonka pledges to deliver the remaining seven new electric trains to Latvia by the end of July 2024, LETA reports. The company assured that production was proceeding on schedule. Latvian passenger train operator Pasazieru Vilciens (Vivi) has so far received 25 of the 32 new electric trains ordered from Skoda Vagonka. Vivi…
Czech company Rekola Bikesharing will launch a bikesharing service in the Estonian capital, Tallinn, at the end of August 2024, ERR reports. The company will have 200 bicycles available. Currently, Rekola’s bikesharing service operates in seven cities in the Czech Republic and Slovakia.
Estonian car-sharing company Elmo and Swedish charging solutions provider Elonroad have opened the world’s first fully automatic charging station for teledriven cars in Tallinn, BNS reports. The stations will allow Elmo to minimise charging interruptions and reduce labour costs. Teledriving technology enables controlling vehicles remotely.
The Investment and Development Agency of Latvia (LIAA) attracted 28 foreign investment projects in the first half of 2024, LSM reported. The projects will bring investments of EUR 263mn and create 1,245 new jobs. Altogether 13 of the projects are in Riga, 9 in Kurzeme, 3 in Latgale, 2 in Vidzeme, and 1 in Zemgale….
Estonia’s ruling coalition parties have agreed to boost Estonia’s economic competitiveness by developing new industries and focusing on nationwide development, ERR reports. The three parties aim to reduce bureaucracy and use EU funds and CO2 money for industrial growth. The coalition plans to distribute subsidies for large investments across Estonia to raise wages and improve…