Signing of agreements for financing the Rail Baltica railway project approved

The Cabinet of Ministers of Latvia has approved the signing of the fourth and fifth financing agreements for the Rail Baltica project with the Executive Agency for Innovations and Networks, which will ensure the development of the project, as well as financing and implementation of priority activities in Latvia, the Ministry of Transport reports.

railway project

The CEF6 funding for the Rail Baltica project, which was approved by the European Commission,  comes to 84 million euros, 72 million euros of which are the part of foreign financial assistance.

As the railway magazine «Railway Supply» reports, the financing is intended for the implementation of the Rail Baltica priorities and will ensure the creation of strategically important objects and works execution in Latvia

By 2024, it is planned:

  • to implement the second phase of construction of Riga Central Railway Junction;
  • to implement the first phase of the construction of Rail Baltica connection with Riga International Airport;
  • to develop projects for the construction of a multimodal logistics terminal Salaspils and infrastructure service points in Skulte and Iecava;
  • to prepare detailed plans for regional stations and technical projects;
  • to continue the conveyance of land required for the construction of Rail Baltica project.