State company Lithuanian Railways, which is 100-percent owned by the Ministry of Transport and Communications, is acting like a state within a state, says President Dalia Grybauskaitė, adding that the company’s “lawlessness and irresponsibility” can cost very dearly to all taxpayers. Her comments came after a meeting with Transport and Communications Minister Rimantas Sinkevičius. […]
The European Commission on Monday proposed earmarking 548 million euros in support for the European standard gauge railway project Rail Baltica, worth 665 million euros in total. […]
A three-day workshop for civilian and military experts from NATO’s Transport Group kicked off in Palanga on Tuesday, Lithuania’s Ministry of Foreign Affairs said. […]
This is the last financial period that Lithuania is entitled to billions of euros in support from the European Union‘s structural funds. After 2020, the cash flow from the EU coffers will decrease significantly and Lithuania will have to learn to do without the support that currently makes a sizable contribution to its economy. Some economists say that unless the country uses the current funding right, economic growth after 2020 might all but stop. Others are more optimistic, insisting that Lithuania’s economy is stable enough to sustain growth even without EU injections. […]
Three memoranda of understanding were signed on Friday with China Merchants Group at the Office of the Government. The memoranda were signed regarding Kaunas Free Economic Zone, Lithuanian Railways and Klaipėda State Seaport. […]
Petroleum company Orlen Lietuva responded to concerns expressed publicly by Lithuanian Railways (Lietuvos Geležinkeliai) over the company’s finances. Orlen Lietuva said that the reduction of its authorised capital was not related to payment to shareholders but was used to cover losses, thus it will not affect solvency. […]
Lithuania is sticking to its position on the Rail Baltica financing model and will ask the European Commission to provide around 160 million euros in funding directly and 30 million euros more through a joint venture based in Riga. Latvia does not object to that, with its transport minister saying that it is important to show that Lithuania is taking part in the project as a serious partner. […]
Lithuania’s state-owned railway operator Lietuvos Geležinkeliai (Lithuanian Railways) will start selling e-tickets late in February. […]
Most of the winners in Lithuania’s first Top Employer awards, held in Vilnius this week, were foreign investors, Invest Lithuania reports. […]
If the European Commission decides that Lietuvos Geležinkeliai (Lithuanian Railways, or LG) limited competition in the rail market by removing a railway track to Latvia, Lithuania might consider rebuilding the track or turning to the European Court of Justice, Transport Minister Rimantas Sinkevičius said on Tuesday. […]
Ambassador of Lithuania in Sweden Eitvydas Bajarūnas participated in the conference “The Baltic trade and transport”, held on 4-5 November in Karlshamn, south-eastern Sweden. […]
After ten years of planning, Transachema, a company of the Achema Group (AG), is ready to start operating as a private rail carrier by using public infrastructure of the state-owned company Lietuvos Geležinkeliai (Lithuanian Railways). […]
The National Audit Office has completed a financial (regularity) audit of the Ministry of Transport and Communications for the year 2013, the National Audit Office reports. […]
RB Rail, a joint venture of the three Baltic countries that will coordinate the European-standard gauge railway project Rail Baltica, should apply to the European Commission for EU funding in October, Lithuanian Prime Minister Algirdas Butkevičius said on Saturday. […]
Mažeikiai oil refinery has never been a plum company for the Polish oil refiner PKN Orlen. Now, the situation has gone so sour officials are talking of bankruptcy. […]
The Lithuanian government will require that all cargo handlers provide preliminary information about cargo carried by rail to the territory of the Customs Union, the Customs Department said. […]
After the official visit by Deputy Minister of Transport and Communications of the Republic of Lithuania Arijandas Šliupas, aimed on increasing the cooperation with People’s Republic of China, Chinese media evaluated the Lithuanian scope to establish stable, constructive and mutually beneficial business relationship positively, the Ministry of Transport and Communications said. […]
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