Estonian Minister of Infrastructure Kuldar Leis (Reform) said there was an agreement with Latvia that the Rail Baltia line would be completed until the end of the decade despite concerns about delays. Estonia has pledged to complete the first phase of its Rail Baltic project until 2030, but concerns persist regarding the section of railway…
Rail Baltica construction is significantly cheaper in Estonia, where a full kilometer of the railway will cost about the same as the substructure alone in Latvia. Latvian Transport Minister Atis Svinka said this week that building the 45-kilometer stretch from Misa to the Lithuanian border would cost over EUR 520 million, or about EUR 11.57…
The high-speed, European-gauge Rail Baltica project will cost close to EUR 24 billion, according to a newly released European Court of Auditors (ECA) special report. Rail Baltica will run from Tallinn southward to the Lithuanian-Polish border. Its original estimated cost had been under EUR 6 billion. Dubbed “EU multibillion transport megaprojects: Mind the gaps,” the…
Lithuanian Defence Minister Robertas Kaunas said on January 16 he agreed with Poland to cooperate on plans to build a new military training ground near Kapciamiestis, close to the strategically important Suwalki Gap. Kaunas made the comments after meeting in Warsaw with Polish Deputy Prime Minister and Defence Minister Wladyslaw Kosiniak-Kamysz. “The training area planned…
Last year was a record year for bonds on the Baltic stock exchanges, with companies raising nearly EUR 2 billion in total on the Estonian, Latvian, and Lithuanian exchanges. “The Estonian economy is still sluggish, investor confidence is on a downward trend, and trading activity on the Nasdaq Tallinn Stock Exchange was nothing special last…
The owner of an undersea telecommunications cable connecting Lithuania and Latvia damaged on January 2 says it expects to complete repairs within the next couple of weeks. A spokesman for Arelion, a telecommunications company owned by Swedish infrastructure investment firm Polhem Infra, said that repair work had already been planned but would depend on weather…
The long-awaited Tartu-Riga train made its inaugural run on January 5, before the route would officially launch later this month, and was met with celebrations along the route. Elron’s orange train departed from a festively decked-out Tartu Railway Station at 10:05 a.m. Platform one was decorated with orange and white balloons in the color of…