Good for Business, Latvia, Railways, Transport

In the first nine months of this year the company carried 13.163 million passengers, which is by 1.4% more than in the respective period last year.

In the first nine months of this year the company conducted the planned repairs of 18 diesel train carriages and four electric train carriages.

In the second quarter of this year the company announced the second phase of the tender for electric trains. By the end of 2017 the technical offers of the bidders will be revised and the bidders will be asked to submit financial offers. The agreement on supply of the trains should be signed in early 2018.

"Along with the tender on procurement of electric trains, there is ongoing work with international financial institutions and local banks to ensure financing for the purchase," the company’s representatives said.

In the first nine months of 2016 Pasazieru Vilciens posted EUR 48.503 million in turnover and earned EUR 613,900 in profit.

Pasazieru Vilciens was established in 2001 to separate domestic passenger services from other functions performed by the state-owned Latvijas Dzelzcels (Latvian Railway). Although initially Pasazieru Vilciens was a 100-percent owned subsidiary of the Latvian Railway, in October 2008 it was transformed into an independent state-owned company.