Lithuanian Railways to receive €68 million EIB funding
26 January 2016 • Author: Katie Sadler, Digital Content Producer, European Railway Review
The European Investment Bank (EIB) has agreed a €68 million loan in support of the modernisation of rail infrastructure and rolling stock in Lithuania.
The EIB and Lietuvos Geležinkeliai (Lithuanian Railways), or LitRail, has signed an agreement for €68 million in support for the modernisation of railways and rolling stock in Lithuania.
The EIB first worked with LitRail in 1996 and has since supported the company in modernising its locomotives and other rolling stock as well as upgrading its infrastructure. The current project consists of several railway infrastructure upgrading and renewal schemes throughout Lithuania and renewal of the rolling stock for passenger services in the country.
“Modernisation of railway infrastructure is one of our top priorities”
Albertas Šimėnas, Deputy Director General of Lithuanian Railways said: “Modernisation of railway infrastructure is one of our top priorities. Our long-lasting cooperation with the EIB contributes to the implementation of a variety of projects that are significant not only for Lithuania, but for the whole of Europe too.”
Lithuanian Railways modernisation project will finance renewal, extension and electrification of lines
The infrastructure schemes include track duplication, renewal and electrification on several sections of the Kena to Klaipėda line via Vilnius, Kaišiadorys and Radviliškis. The project will also address the renewal and extension of the Klaipėda railway hub and some complementary traffic safety and noise abatement measures. Upon completion, it will help to remove bottlenecks and increase the capacity of the lines, so that 1,050m long 6,000t freight trains can use these tracks.
EIB Vice-President Jan Vapaavuori, responsible for operations in the Baltic countries, added: “Lietuvos Geležinkeliai is a key chain link in the Lithuanian economy and the EIB is glad it can contribute to this important modernisation programme, which will benefit all Lithuanians who use the railways on a daily basis. Sustainable forms of transport have long been an EIB priority and will continue to be so in the coming years.”