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Saturday, 20.04.2024, 14:15
Lithuanian Railways says Rail Baltic project won't benefit the company
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LG CEO Stasys Dailydka says he will sign the document, if he is authorized by the company's board, adding that he will have done everything and warned that the contract does not benefit the company. Dailydka has restated another important aspect – Lietuvos Gelezinkeliai will not be eligible for project construction tenders, unlike the Latvian and Estonian railway companies.
"There are scores of problems there (in the contract) – we are losing many things, even our subsidiaries will not be able to take part in subcontracting, the company (RB Rail) is not accountable for anything – for traffic safety, for damages that may be caused, for loss or misuse of money. In the end, it can lose European money," the LG chief told.
In Dailydka's words, the project value may reach about 2.8 bln euros in Lithuania, including up to 450 mln euros or 15% to be cofinanced by LG, given that 85% is provided by the EU.
"We are automatically committed to finance the co-financing, even the work that is not paid for by the EU. Our share can be up to 450 mln euros. It is difficult for me to give a specific number, it is a rough figure," said Dailydka.
"We are the only ones (among RB Rail shareholders) who have properties, our inclusion is different. This could have been done equally," he added.
"We cannot (participate in tenders). If we sign, and the documents signed earlier put us in the worst possible situation. Latvian and Estonian railway firms will be eligible, and we won't (...). There are even more risks – in connection to safe traffic, etc." said the LG CEO.
In the joint company RB Rail, Latvia is represented by Eiropas Dzelzcela Linijas, a company subordinate to the country's transport ministry, while Estonia is represented by Rail Baltic Estonia, also subordinate to the national ministry. Lietuvos Gelezinkeliai and its subsidiary, RB Statyba, have equal stakes in the enterprise.
Rail Baltic is the project for the construction of a European-gauge high-speed railroad from Tallinn to Lithuania's border with Poland.
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