International Internet Magazine. Baltic States news & analytics
Saturday, 07.05.2016, 01:31
The three Baltic countries are looking for the best solution in their talks on the European-gauge railway Rail Baltica tender procedures and there is "nothing wrong" if some stronger statements are made, Lithuanian Transport Minister Rimantas Sinkevicius said on May 5th, cites LETA/BNS.
Keyword tags: EU – Baltic States, Legislation, Lithuania, Railways, Transport
According to Stasys Dailydka, CEO of the Lithuanian state-owned railway company Lietuvos Gelezinkeliai (Lithuanian Railways), RB Rail, a joint venture set up by the Baltic countries to implement the European-gauge railway Rail Baltica project, has become a stumbling block to what is the three countries' largest joint project, informs LETA/BNS.
Swedbank and the Latvian state-owned railway company Latvijas Dzelzcels (Latvian Railroad, LDz) have signed an agreement about two long-term loans for 10 years and 15 years respectively for a total amount of EUR 32.26 million to be spent on modernization of locomotives, informs LETA.
Consolidated net sales of Daugavpils Lokomotivju Remonta Rupnica (Daugavpils Locomotive Repair Plant, DLRR), the train engine repair group based in the south-eastern Latvian city of Daugavpils, in 2015 was EUR 19.2 million, up four percent from 2014, the company’s revised financial report submitted to the Nasdaq Riga Stock Exchange points out, cites LETA.
The fact that the cooperation partners of Latvian ports include business people closely tied to Russia's political elite may have adverse effects on the Latvian national economic security interests, the Latvian Security Police said, cites LETA.
After the coordinator of the Nordic and Baltic TEN-T coordinator warned that failure to agree on contraction contracts may cause the Baltic States to lose the funding of the European-gauge Rail Baltica project, Lithuania's Transport and Communication Minister Rimantas Sinkevicius said he is not alarmed by the warning, reports LETA/BNS.
The Baltic States should not hesitate with the agreement on Rail Baltica project for construction of the European standard-gauge railroad that would establish a direct connection between the Baltic States and the European railway network, said Catherine Trautmann, European Coordinator for the North Sea–Baltic core network corridor, in an interview with LETA.