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

The Commission wants the funds allotted for the project to be spent efficiently, and it is of not much importance whether the money is spent on the project of the joint-stock company Pasazieru vilciens or some other important goal of Latvia, stressed Steinbuka, informs LETA.

The Commission representative hopes that Latvia will not lose these funds – Latvia still has couple years to absorb the funding, added Steinbuka.

As reported, the total cost of new 34 electric trains and seven diesel trains that Pasazieru vilciens wishes to buy is LVL 144, of which LVL 100 million will be covered with funds from the Commission's Cohesion Fund, whereas Pasazieru vilciens co-financing will be LVL 44 million. Together with the train maintenance cost, the contract amount may reach EUR 610.76 million (LVL 429.24 million), and the new trains must be manufactured until August 2015.