15.12.2015
On November 24, representatives of the three Baltic states' joint ventures and the European Commission signed a financing agreement for the 442 million euro Rail Baltic project. The signing of the agreement will allow construction of the railway connection to begin in 2018.
The first EU funding agreement was signed by Baiba Rubesa, CEO of RB Rail AS, a joint venture between the three Baltic states, and Dirk Beckers, Director of the EU Innovation and Networks Executive Agency (INEA). The €442 million agreement will allow for the continuation of preparations for the construction of Rail Baltica and the start of construction work in all three countries.
In Estonia, the funding will be used to develop a detailed technical design for the entire railway route, including the Tallinn and Pärnu passenger terminals, the Muuga multimodal freight station and the rolling stock maintenance depot. In addition, the support will be used to further study the need for mitigation measures related to the project and to implement them. The funding will enable the construction of the railway embankment and level crossings and other facilities necessary for rail transport to begin.
RB Rail AS, a joint venture of the three Baltic states, was established in Riga at the end of 2014 and its goal is to coordinate the design, construction and international marketing of railways.
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