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International Internet Magazine. Baltic States news & analytics Monday, 16.07.2018, 13:24

Lithuanian govt approves extra contribution to RB Rail capital

BC, Vilniaus, 11.07.2018.Print version
Lithuania is set to make an additional contribution to the capital of RB Rail, a joint venture established by the three Baltic countries for the implementation of the European-standard gauge railway project Rail Baltica, informs LETA/BNS.

The government on Wednesday gave the go-ahead for using the state's funds to increase the authorized share capital of Lietuvos Gelezinkeliai (Lithuanian Railways) by 650,200 euros. The money will go to the state railway company's subsidiary Rail Baltica Statyba, the Lithuanian shareholder of RB Rail.


Under the RB Rail shareholder agreement signed by the three countries in October 2014, the initial capital of the joint venture amounted to 1.95 mln euros and was increased by 1.95 mln euros annually over four years until it reached 7.8 mln euros. 


Lithuania transferred its final contribution under the initial agreement in 2017. The shareholders later decided to contribute an additional 650,200 euros each in 2018.


Lithuania, Latvia and Estonia are currently in talks on the future financing of the joint venture.

 






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