Lithuania will not finance Rail Baltica

In the face of the changed economic situation, it is necessary to reassess the possibilities of financing the project Rail Baltica and strive for new and simpler decisions. It is obvious that it will be too difficult to ensure the necessary financing for the previously planned technical solutions from the state budget or the revenues received by Lietuvos Gelezinkeliai (Lithuanian Railways).

 

According to specialists, the building of the European railway line to Kaunas would cost around 1.55 billion litas (449,430 euros). It would be possible to receive only about 0.6 billion litas (0.174 billion euros) from the European Union's funds and Lithuania would have to allocate almost 1 billion litas (0.29 billion euros) to the project which is practically impossible due to the present-day economic situation, writes ELTA/LETA.

 

Such thoughts were stressed by Acting Transport Minister Eligijus Masiulis, who received the promise of Pavelas Telicka, coordinator of the project Rail Baltica appointed by the European Commission, on Tuesday that the Commission would allocate the necessary support for Lithuania and intended to cooperate in searching for simpler and cheaper ways to implement the project.

 

"Today we are open for various solutions; we are also analyzing new, previously unconsidered possibilities of implementing the project Rail Baltica. We think that it is possible to attract private capital to this project through the partnership between the public and private sector," said Acting Transport Minister Masiulis.

 

Acting Foreign Minister Vygaudas Usackas also discussed with coordinator Telicka the ways to accelerate the implementation of the project Rail Baltica in the current economic situation and to attract foreign investment to this project.

 

The head of the Lithuanian diplomacy noted that Rail Baltica was a strategically important infrastructure project for Lithuania. According to Usackas, the project's implementation is moving forward, yet too slowly, resulting in the waste of time and the weakening Lithuania' position in the regional market. Usackas noted that a more significant progress should be achieved by joint efforts.

 

 

Source: Port News