EU – Baltic States, Latvia, Legislation, Railways, Transport

The RB Rail council chose Rubesa out of more than ten candidates for the job. The council though is yet to officially approve Rubesa in the job.

The Baltic countries' joint venture RB Rail was established in November 2014, its share capital is EUR 1.95 million. The company will be responsible for designing, construction, and marketing of Rail Baltica railroad.

Until now, the company had just one board member – Edvins Berzins.

As reported, the Rail Baltica project deals with construction of a new 1,435 millimeter standard-gauge railroad in the Baltic countries. The implementation of project could cost EUR 1.27 billion to Latvia and EUR 3.68 billion to the Baltic States altogether. The European Commission could co-fund 85% of the project's costs. The request for funding was submitted to the European Commission in the spring of 2015, so construction of the railroad could begin in 2016. Further funding for the project is to be provided as part of the next financial period that will begin in 2020.