aA
Lithuania's state-run railway company Lietuvos Gelezinkeliai (Lithuanian Railways, LG) has signed a contract, worth 363 million euros, for the electrification of the Vilnius railway hub and the Kaisiadorys-Klaipeda railway, with Spanish company Elecnor on Friday after Transport Minister Jaroslav Narkevic allowed to sign it on Thursday.
Lithuanian Railways signs railway electrification contract with Spanish company
© Lietuvos geležinkeliai

The contract was signed by Mantas Bartuska, CEO of Lietuvos Gelezinkeliai, his deputy Karolis Sankovski and Juan Gardeazabalis Eguia, board chairman of Elecnor.

Bartuska stated that the project would create economic value of around 500 million euros and will also help to reduce pollution.

"It is important not only for economic reasons but for ecological as well. We are reducing CO2 emissions, which is a great benefit, which exceeds 700 million euros," Bartuska said during the signing.

The contract was signed after the other tender participant – Spain's Cobra Instalaciones Y Servicios – did not appeal by the deadline of Thursday's midnight. Transport Minister Jaroslav Narkevic allowed signing it on Thursday.

Lietuvos Gelezinkeliai plans to complete the project, which received 200 million euros in funding from the European Commission, by the end of 2023.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.
|Populiariausi straipsniai ir video

Minister: budget deficit to narrow, debt-to-GDP ratio to stabilize in 2021

The Lithuanian state's 2021 budget bill has been drafted with the aim of reducing the general...

One in 3 Lithuanians feels anxious about money

Thirty-nine percent of Lithuanians feel anxious about their finances every day, which adversely...

Simonyte: key budget issue is what to do with borrowed money (1)

The key question related to Lithuania's next year budget is what will be done with borrowed money...

Minister: Lithuania financially capable of withstanding another coronavirus outbreak

Lithuania would be financially capable of withstanding another coronavirus outbreak, Finance...

A new commercial bank has launched operations in Lithuania

PayRay , a Lithuanian financial sector company, has started a new page of its business service...

Top news

Veryga: most of Lithuania's major municipalities to be labelled 'red' next week

Most of Lithuania 's municipalities are likely to be marked as red zones next week due to high...

Parliament election: home voting starts, voting at special points continues

People eligible to vote at home will be able to cast their votes in the Lithuanian parliament...

Why Europe wins

Everyone writes off the European Union as dull and prone to fracture. But the last decade shows that...

442 new coronavirus cases (1)

On Thursday, 424 new COVID-19 cases were detected in Lithuania . In total, 9104 coronavirus cases...

David Leask | D+ nariams

Brexit might break Britain. What will Scotland do?

Scotland, six years after its last crack at independence, is hankering to be a “global good gal,”...

|Maža didelių žinių kaina