The Baltic countries will not sign a shareholders' agreement for RB Rail, their joint venture for the European-standard gauge railway project Rail Baltica, in the summer, as expected, because some procedures have not yet been completed, Lithuanian Transport Minister Rimantas Sinkevičius said.
© DELFI (R.Achmedovo nuotr.)

There were plans to sign the agreement on or around 23 August, when the three countries are marking the 25th anniversary of the Baltic Way, but most probably this will have to be done in September because Estonia is yet to establish its company that will become a shareholder of RB Rail, the minister said.

"The shareholders' agreement has been prepared and the talks are over. The Latvians set up their company some two weeks ago, but Estonia has not done so yet. As far as I know, this should be done next week. I think we'll be able (to sign the agreement) in September," he told BNS.

The prime ministers of Lithuania, Latvia and Estonia in Tallinn in June signed a statement on the establishment of a joint venture for Rail Baltica. The company will oversee the implementation of the project and apply to the European Commission for funding.

Rail Baltica Statyba, a subsidiary of the Lithuanian state railway company Lietuvos Geležinkeliai (Lithuanian Railways), will hold a one-third stake in the joint venture and Latvian and Estonian companies will own the remaining shares.

The total length of Rail Baltica is around 360 kilometres in Lithuania, slightly more than 300 kilometres in Latvia and about 300 kilometres in Estonia.

The European-standard gauge railway will connect Helsinki with Warsaw through Tallinn, Riga, Kaunas and Vilnius and will be extended up to Berlin.

BNS
Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

Technical scenario for Baltic grid synchronization approved in Brussels (Updated)

The project for the synchronization of the Baltic power grids with the Continental European system...

Lithuanian transport minister calls Latvia's claims over Renge 'a stab in the back'

Lithuanian Transport Minister Rokas Masiulis says that Latvians' demand that Lietuvos...

Lithuania, Latvia holding talks on ambulance services in border areas

Lithuania and Latvia are holding talks on the provision of ambulance services in border areas.

Lithuanian military helicopters continue to help Latvia, Sweden fight wildfires

Two Mi-8 helicopters of the Lithuanian Air Force have been helping to fight wildfires in Latvia...

Latvia thanks Lithuania for help in extinguishing fires

Latvia on Wednesday thanked Lithuania for its assistance in extinguishing forest and peat fires in...