The European Commission fine could be up equivalent to up to 10% of Lithuanian Railway’s annual revenue. In 2014 the company’s revenue it €473 million meaning that the European Commision fine could reach €50 million.
The Rengė section was dismantled in September 2008 forcing railway traffic between Lithuania and Latvia to be suspended. As a result, Orlen had to send its cargo to Latvia through a far longer route which was more expensive to the company, but that meant additional revenue for Lithuanian Railways.
The European Commission fine on Lietuvos geležinkeliai would allow the Polish company Orlen to claim for compensation for the damage the company suffered from the disassembling of the railway section.
Last year Lietuvos geležinkeliai said that Rengė section reconstruction project was ready, but has not been started due to lack of funds.
According to preliminary estimates, the reconstruction of the section would cost about €11.5 million. It is expected that part of the funds could be covered with the EU funds.
With Dalia Grybauskaite having ended her second term as Lithuanian president, here is a look at her...
The United States' most-advanced fighter jets F-35 landed in Lithuania on Thursday.
The Lithuanian parliament gave on Thursday the green light for the appointment of Major General...
Lithuania's new President Gitanas Nauseda is expected to nominate on Thursday Saulius Skvernelis...