Financial Services, Latvia, Legislation, Railways, Transport

International Internet Magazine. Baltic States news & analytics Friday, 30.10.2020, 22:16

Latvian railway company will need state support until 2025

BC, Riga, 21.09.2020.Print version
Latvijas Dzelzcels (LDz) railway company will need financial support from the state until 2025, said LDz board chairman Maris Kleinbergs in an interview with LETA.

The government this year decided to invest EUR 32.422 million in LDz share capital and it was necessary for the company to complete the started investment projects, he said.

"After analysis of the third quarter results, we will be able to tell whether and how much funding is needed this year," said Kleinbergs.

He said that LDz is actively working on its development strategy and action plan. It is planned that the company will need state support until 2025. "LDz in the coming years will improve the company's efficiency, thus, necessity for state support will decline every year. According to our plan, we will not need any state support starting from 2025," he said.

LDz this year plans to generate EUR 135 million in turnover, and the cargo handling might be at slightly more than half of last year's results.

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