RB Rail AS secures US $1.2bn in additional funding for Rail Baltic link
The line will run North-South from Tallinn to the Lithuanian/Polish border, improving connections between continental Europe and the Baltic States and also Finland, to the North
An agreement has been signed by RB Rail AS, which will bring an additional US $1.2bn in funding from the European Cohesion Fund, for the planned high-speed Rail Baltic link across Estonia, Latvia and Lithuania.
The new financing will support several important Rail Baltica sub-projects in Estonia, including the underpinning of the line, construction of road crossings, and other infrastructure. The financing is in addition to the existing co-financing support from the three countries.
According to a report, the funding will be allocated for various stretches in Northern Estonia, such as Loone to Alu in Rapla County, the area between the Harju/Rapla county line and Loone, and crossings at Alu, Parila (Harju County) and Juula (Rapla County). With regards to Latvia, the funds will be leveraged for the construction of a new station in Riga, as well as for the development of infrastructure near Riga airport.
Lastly, in Lithuania, the funds will be used for improving the infrastructure, with the railway line passing through the more central location of Kaunas instead of Vilnius.
An updated cost-effectiveness analysis is said to be scheduled for the end of 2024, to reassess the project’s socio-economic benefits, secure additional financing, and optimise implementation.
