Baltic, Cooperation, EU – Baltic States, Markets and Companies, Railways, Transport

"I think that one of the assets that we bring is our experience, our innovation and our technology to help run and build cost-effective railway. We can potentially save a lot of money for a client by bringing technology," told Neil Walker, the association's international development director.

He expects that UK companies or international companies with railway business units operating from the UK will participate in Rail Baltica tenders.

Walker added that Brexit was unlikely to affect UK-based companies' ability to participate in international EU infrastructure projects.

Rail Baltica, estimated to cost around 5 bln euros, will connect Helsinki with Berlin via Tallinn, Riga, Kaunas and Warsaw. Construction on the European-standard gauge railway is expected to be completed in 2024 to 2025.

The European Union may provide up to 85 % of the project's total costs in the 2014-2020 period. The European Commission approved 106 million euros for Rail Baltica works in Lithuania last year and another 191 mln euros this year.