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Thursday, 18.04.2024, 18:55
Estonia to make payment of EUR 1.7 mln to Rail Baltic joint venture
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The state is to make the payment to OU Rail Baltic Estonia. Of the 1.7 million euros, 1 million will be paid for increasing the nominal value of equity capital and the rest is above par value, spokespeople for the government said.
Of the sum to be paid, 650,000 euros will be paid to RB Rail AS, including 1 euro per nominal value of each share and 649,999 euros above par value. The government is to grant necessary authorization to the minister of economic affairs and infrastructure for these procedures. Latvia and Lithuania are to make similar payments to RB Rail AS.
RB Rail AS is the central coordinator for the Rail Baltic / Rail Baltica project, which involves the construction of a high speed rail line from Tallinn to the Lithuanian-Polish border. The connection will be an electrified public use rail line enabling speeds of up to 120 kmh for freight trains and up to 240 kmh for passenger trains.
The sum to be paid by Estonia is planned to be taken from the 2017 state budget. Similar down payments were also made in 2014-2016.
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