The state joint-stock company Latvian Railway (LDz) plans to electrify the country’s entire railway network until 2040, as announced by LDz board chairman Maris Kleinbergs at a press conference.
He explained that the company was currently working on this project’s financing plan and mechanism. Project cost estimates are also in the works. Initial estimates suggest the necessary financing amount will be EUR 4 billion to EUR 4.5 billion, said Kleinbergs at the press conference.
After the press conference LDz representatives clarified that the aforementioned amount was the total cost of LDz infrastructure modernization projects until 2035 – electrification, train speed increase, passenger platform reconstruction and other projects.
The new electrification project is based on the plan to provide passenger transportation services.
Kleinbergs explained that costs and revenue were being estimated at the moment and financing was being planned. He said estimates should be ready within half a year.
LDz is currently working on an electrified railway reconstruction project to adjust 81 km long railway line in Riga hub from 3.3 kV to 25 kV electric current. This project’s funding reaches EUR 72.2 million from the EU Recovery and Sustainability Mechanism and is planned to be implemented until 2026. (BNN/Business World Magazine)