Rail Baltica secures another 350 million euros of funding

Take note – story published 1 year ago

On 29 June 2022, the Rail Baltica joint venture RB Rail AS announced that more than 350 million euros will be awarded to the high speed rail project in the first call of the new financial period 2021-2027, and that in combination with the national co-financing from the three Baltic States, the total will exceed 400 million euros.

The total predicted cost of the Rail Baltica project is 5.8 billion euros.

The European Climate, Infrastructure and Environment Executive Agency (CINEA) received 399 proposals, for a total of 14 billion euros of requested co-funding. Out of these 135 project proposals were selected for funding of a total 5.4 billion euros across all EU Member States. The amount allocated to the Rail Baltica project is the third largest among all projects.

The Grant Agreement, which is planned to be signed in Q3 of 2022 will include the start of construction works on the Rail Baltica mainline on the priority section in Latvia near the Latvian / Lithuanian border and development of detailed technical design for the Construction base in Skulte infrastructure maintenance facility.

“Over the last years the Baltic states have proven the commitment for delivery and progress – design works are progressing in 640 km of the 870 km Rail Baltica line, prioritising completion of works in sections chosen for construction, and the design and design supervision procurements for Kaunas – Vilnius and Kaunas – Lithuania/Poland border have been launched. First construction works are progressing in all states in some of the most complex elements of the mainline, and construction procurements have been announced allowing further large-scale main line construction works to commence when designs and land acquisition is completed,” said Agnis Driksna, Chairman of the Management Board and CEO at RB Rail AS.

In 2Q 2022, the project launched the Rail Baltica procurement plan providing an overview of the planned tenders, timeline, with the total planned contract amounts exceeding 2 billion euros.

The considerable amount of this financing recommended for the Rail Baltica global project will be added to the already available financing from the 2014-2021 financial period where more than 1.2 billion euros is available for Rail Baltica implementation, of which 85% comes from the Connecting Europe Facility (CEF). The CEF Transport program implements the European Union’s transport infrastructure policy by supporting investments in building or upgrading transport infrastructure across Europe.

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