The three Baltic States lack sufficient funding to complete the first phase of the Rail Baltica railway project, LSM reports. The total cost of the first phase is estimated at EUR 15bn, and only slightly more than EUR 5bn of funding has been pledged so far. Marko Kivila, CEO of the project’s central coordinating entity,…
A rail link to the Latvian capital, Riga, is planned to be built in the second phase of the Rail Baltica railway project, Marko Kivila, CEO of the Baltic joint venture, RB Rail, told LETA. He noted that the Baltic States had not agreed on a timetable for the second phase yet. There would be…
The three Baltic States must agree on a new financing model for the Baltic joint venture, RB Rail, which manages the Rail Baltica railway project, CEO Marko Kivila and CFO Ojars Daugavietis stressed, LETA reports. Kivila noted that RB Rail’s budget remains largely unchanged in 2025, and that the company has therefore halted hiring and…