Baltic colleagues will need to look for solutions and additional funding to continue Rail Baltica railway projects together, because the costs are up for everyone, not just Latvia, Minister of Transport Kaspars Briskens has said.
He said he could not voice the exact estimates as to the cost of implementation of the project in Latvia. He did say this information would be reported once design work was complete.
“The number will be larger than initial estimates suggested,” said Briskens, because initial estimates performed several years earlier were inaccurate and the project was delayed.
Construction and material prices went up as well. The minister admits costs keep going up because there are continuous delays. He also said that it was known from the start: there wasn’t enough funding to complete Riga Central Station and Riga International Airport station.
In total the project may cost approximately EUR 7.8 billion.
“I am prepared to go with my Baltic colleagues to our European partners to implement this project in two EU planning periods in a way that would allow Latvia and other Baltic States affording it,” Briskens said.
On September 28, he has a meeting scheduled with Prime Minister Evika Silina and Minister of Finance Arvils Aseradens to discuss the project and look for a solution. (BNN/Business World Magazine)
