Rail Baltica is one of the priority projects of the European Union: Trans-European Transport Networks (TEN-T). VILNIUS - Despite cost increase, implementation delay and economic sustainability risks identified by the European Court of Auditors (ECA), Rail Baltica was rated as one of the best performing among the major EU infrastructure projects audited by the watchdog, Lithuanian Prime … The project is estimated to be financially feasible if the European Union covers at least 40 per cent of the cost, the rest being shared by Finland and Estonia and the two capital cities (for comparison, the Rail Baltica project has received 85 per cent of its funding from the EU). ... As much as 80 per cent of the total cost is scheduled to be met by the European Union. The railway will pass through Berlin, Warsaw, Vilnius, Kaunas, Riga and Tallinn. This includes the appendix planned to be built between Kaunas and Vilnius. Show Fullscreen. Rail Baltica costs are estimated at EUR 5.8 billion. The aim of Rail Baltica is to connect the three Baltic states (and Finland) with Central and Western Europe via a new, fast, electrified railway that will offer speeds of up to 250 k/ph for passenger trains, and 125 k/ph for goods trains. 2020-01-08T11:24:00+00:00. When the Baltic prime ministers meet in Tallinn this Friday, they need to agree how to speed up building of Rail Baltica as deadlines are being missed and costs are rising. The European Court of Auditors concludes that in the Rail Baltica high-speed rail project has become more expensive by EUR 2.352 bn to EUR 7 bn euros in a relatively short period of time, Luc T'Joen from the European Court of Auditors said during a joint meeting of the Saeima European Affairs Committee and Public Expenditures and Audit Committee today, referrred LETA. Part of the costs is covered by finances provided by the European Union. RB Rail AS, K. Valdemara iela 8-7, Riga, LV-1010. Since Rail Baltic is a project built as a collaboration of three countries, both the cost and cost-benefits are generally assessed a whole, for the railway passing through the entire Baltic region. The route was supposed to be extended to Finland under the Baltic Sea, but Helsinki suspended their participation. The aim of Rail Baltica is to connect the three Baltic states (and Finland) with Central and Western Europe via a new, fast, electrified railway that will offer speeds of up to 250 k/ph for passenger trains, and 125 k/ph for goods trains. The European Court of Auditors has warned that the 870km Rail Baltica scheme linking Estonia, Latvia and Lithuania will run over budget, miss its deadline and have doubtful economic value. The Baltic route should be completed by 2025; the link to Warsaw-2030. Latvia and Estonia are blaming Lithuania for stalling the project, while it digs its heels defending own interests It envisages a continuous rail link from Tallinn (Estonia) to Warsaw (Poland), going via Riga (Latvia) and Kaunas (Lithuania). The Rail Baltica is a project of railway that will connect the Baltic countries with Western Europe. Rail Baltica is planned to be finished and open for traffic in 2026. Together with the currently signed grant agreement contracts, Rail Baltica in the three Baltic states has already secured around EUR 1.2 billion from the EU and national funds, though in all the project is expected to cost around 5.8 billion euros. The watchdog announced its finding in a report last week that examined eight multi-billion schemes in the EU with a total cost … Auditors warn of Rail Baltica cost and timescale risks. Reg. Office phone: +371 66 967 171.
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