Saeima of the Republic of Latvia will soon ratify Rail Baltica agreement, which is expected to allow passenger trains to travel at a speed of 240 km/h instead of 120 km/h. Higher travel speed will also ensure cargoes from Tallinn reach Poland within two days.
The objective of this agreement is ensuring effective and quick finish of a new European railway line for passenger and cargo transports as part of a joint European transport network to meet interests of Estonia, Latvia and Lithuania, as mentioned in Saeima’s statement.
RB Rail board member Kaspars Rokens says that in addition to the aforementioned benefits, Rail Baltica will help reduce pollution by carrying more cargoes by train, not trucks.
Rokens had also previously stated that the new railway connection would help create more than ten thousand jobs in Latvia for the duration of the construction process.
It is also expected that Rail Baltica will see carried cargo volumes go up to 13 million tons in 2030. The new railway line will also be used to transport part of Finland’s import and export goods, as previously confirmed by RB Rail business development manager Kaspars Briskens. Rail Baltica will also help Latvian exporters reach new markets.
It is emphasized in the agreement that its goal is developing Rail Baltica’s public infrastructure, which is strategically important for Latvia, Lithuania and Estonia. Rail Baltica is also important for Poland and Finland, as mentioned in the annotation.
The agreement will also strengthen the previously used Rail Baltica definition, the status of RB Rail project coordinator and Rail Baltica’s route in Baltic States.
The agreement also focuses on the importance of EU funding for the project’s realization and member states’ commitment for the successful realization of the project. The agreement also provides an opportunity for all sides to co-finance the project’s activities using state budget.
It should be noted that the agreement also defines that infrastructure built on the territory of the participating country belongs to that country. (BNN/Business World Magazine)