The European Union’s (EU) support will account for more than 80 percent of the project’s total value.
Late in February, the three Baltic countries submitted a joint request to the Commission asking for the support of 459 million euros, i.e. 85 percent of the project value (EUR 540m). The Lithuanian railway operator Lietuvos Geležinkeliai (Lithuanian Railways) separately asked for 106 million euros, the European Commission Representation in Lithuania said on Monday.
As proposed, support to RB Rail, a joint Baltic venture in charge of the project, will account for 81.83 percent (EUR 442m) of the total project value and support to Lietuvos Geležinkeliai will cover 85 percent (EUR 106m) of project costs.
“Today, I am very pleased to propose the largest investment plan ever made by the EU in the transport area. The projects we selected will serve citizens and businesses alike, by upgrading infrastructure and removing existing bottlenecks,” EU Commissioner for Transport Violeta Bulc said in a press release.
On Monday, the Commission unveiled a record 13.1 billion euro investment plan in 276 transport projects selected under the Connecting Europe Facility (CEF).
The proposed funding decision must now be formally adopted by the CEF Committee, which will meet on July 10.