The Latvian government should seek to reduce the costs of the Rail Baltica railway project, the European Commission’s Executive Vice-President Valdis Dombrovskis stated, LETA reports. Speaking in an interview with Latvijas Radio, Dombrovskis pointed out that not everything could be financed with EU funds. He said that part of the project should be financed from…
Latvia’s Ministry of Transport has proposed that passengers travelling on the Rail Baltica railway will have to change trains to transfer from Riga Central Station to Riga International Airport, LETA reports. Under the plan, Riga Central Station would be connected to the airport via a standard-gauge (1,520 mm) railway line. The ministry argued that building…
Estonia was the world’s largest exporter of prefabricated wooden houses in 2023, ELTA reports, citing Lithuanian business news portal Verslo Zinios. Estonia had a global market share of 21.5%, followed by Lithuania with 9.3% and Poland with 8%. Estonia’s exports of wooden buildings totalled EUR 390mn in 2023. Lithuania came in second with EUR 164mn, which…
The construction price index in Estonia rose by 2.2% on year in the second quarter of 2024, according to data from Statistics Estonia, ERR reports. Compared to the first quarter of 2024, the index rose by 0.7%. The cost of labour rose by 1.3%, of machinery by 2.4%, and of building materials by 0.2% over…
The European Commission will allocate an additional EUR 1.2bn of EU funds for the construction of the Rail Baltica railway, the project’s coordinator, RB Rail, announced, LSM reports. Of the sum, around EUR 370mn will go to Estonia, EUR 346mn to Latvia, and EUR 458mn to Lithuania. Together with national co-financing, total available funding will…
Lithuania’s Klaipeda State Seaport plans to begin the construction of a new cruise ship terminal in 2024, BNS reports. The terminal will be located near the port city’s Winter Harbour area. The port has opened tendering to select the construction contractor. The new terminal complex will also include a new office building for the port…
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…
The Latvian government has approved an updated national energy and climate plan, aimed at meeting the EU’s climate targets by 2030, LSM reports. The plan outlines five key areas: decarbonisation and renewable energy, energy efficiency, energy security, integration with the EU’s internal energy markets, and research, innovation, and competitiveness. The plan includes around 250 measures…