EU – Baltic States, Latvia, Railways, Transport

International Internet Magazine. Baltic States news & analytics Tuesday, 23.10.2018, 10:45

Latvian government to invest 650,000 euros in RB Rail share capital

BC, Riga, 09.10.2018.Print version
The Latvian government will invest 650,000 euros in the share capital of Eiropas Dzelzcela Linijas who will further then invest it is RB Rail, he Baltic countries' joint venture for implementation of the European standard gauge railroad Rail Baltica project, informs LETA.

Eiropas Dzelzcela Linijas is Latvian shareholder in RB Rail.


The Latvian Transport Ministry said in its draft decision that the sum will be invested in the share capital of RB Rail thus gaining equal share as the Estonian and Lithuanian shareholders in the company.


The ministry said that on January 1, the share capital of Eiropas Dzelzcela Linijas is 2,720,000 euros comprised of 1,720,000 ordinary shares with the face value of 1 euro each.


RB Rail is the central coordinator for the Rail Baltica project for the construction of a new fast conventional, European standard gauge double track electrified rail line from Tallinn to the Lithuanian-Polish border. RB Rail shareholders include the Lithuanian, Latvian and Estonian railroad companies, UAB Rail Baltica Statyba, SIA Eiropas Dzelzcela Linijas and Rail Baltic Estonia OU.


Rail Baltica, estimated to cost around 5.8 bln euros in total, is a project to build a direct railroad between the Baltic countries and the European railroad network.

 






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