Latvia: President, PM criticise Transport Minister’s communication

Latvian President Edgars Rinkevics criticised Transport Minister Kaspars Briskens for his communication on the development of the country’s national air carrier, airBaltic, and the Rail Baltica railway project, LSM reports. Rinkevics said that the minister’s communication had been a “complete failure.” Speaking after her meeting with the President, Prime Minister Evika Silina said that she…

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Baltic: EU allocates another EUR 1.2bn for Rail Baltica project

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…

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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…

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