Baltic States Railway can achieve faster development

Friday, February 23, 2024

Baltic States Railway can achieve faster development through joint efforts, says Latvian Railway (LDz) board chairman Rinalds Pļavnieks.

This week there was a meeting of three Baltic States Railway and European Railway Infrastructure Managers Association “RailNetEurope” work group.

During this meeting, participants addressed topics relevant for the development of the Baltic railway network.

Pļavnieks explains that this meeting helped outline the problems specific for the Baltic region in the context of the European railway network.

“Through joint efforts together with other Baltic States we have an opportunity to achieve a better understanding from EU institutions about the challenges and opportunities of Baltic railways, as well as promote a faster development for our railway sectors,” he added.

RailNetEurope Chief Information and Finance Manager Harald Reisinger stressed at the meeting the importance of cooperation between all three Baltic States in order to adopt new railway systems and integrate them into European standard railway systems, because this will allow them to become eligible to receive greater EU support.

At the same time, the company notes that the work group was composed following a request from LDz in order to work together on issues important for the development of the Latvian, Lithuanian and Estonian railways in the areas of system infrastructure modernization, information technology, financing, railway corridor marketing and other areas.

LDz explains that the work of RailNetEurope is organised in specially-composed work groups. The most important decisions are made twice a year during General Assembly meetings.

The next General Assembly meeting will be organised by LDz in Riga on the 16^th of May.

As previously reported, LDz concern had a turnover of EUR 194.94 million in nine months of 2023, which is 7.4% more when compared to the same period of 2022.

Nevertheless, LDz still suffered losses of EUR 730 000, as opposed to profits a year prior.

In nine months of 2023 LDz parent company had a turnover of EUR 123.39 million, which is 18.9% more when compared to the same period of 2022. LDz losses amounted to EUR 14.415 million.

RailNetEurope is the European Association of Railway Infrastructure Managers, which helps coordinate the international activities of its members in railway areas such as capacity, traffic, performance and corridor management, information technology, legal issues and marketing.

« Back to Page