Rail Baltic receives €442 million EU boost
The three Baltic nations today signed an agreement with EU's Innovation and Networks Executive Agency (INEA) worth 442 million euros. The agreement means construction of the high-speed rail link should begin in 5 years.
The funds will go towards the first construction phase which means technical studies, land purchasing, public presentations and debate, necessary licenses and anything else needed to make sure actual construction of the line can begin in 2020.
Estonia will use its part of the funds for project details of Tallinn and Pärnu passenger terminals and the Muuga cargo station, among other projects.
The Rail Baltic project will connect the three Baltic nations by high-speed railway where passenger trains can travel up to 240 kilometers per hour and cargo trains 120 kilometers per hour.
The total cost of the project is estimated around 3.6 billion euros with the Estonian government's part at 500 million euros.
INEA also approved two other projects – 105 million euros for the railway line from the Polish-Lithuanian border to the Latvian-Lithuanian border and 186 million euros to upgrade and modernize 102 kilometers of rail lines from Warsaw, Poland, towards the Lithuanian border.