If the technical solutions of the Rail Baltica project were to be optimised, and if the project were to be divided into phases, the first phase in Latvia could cost around EUR 5 billion, the acting CEO of the Baltic joint venture RB Rail, Marko Kivila, told the media on Wednesday.
Kivila said that the total investment for the first phase of Rail Baltica in the Baltics might amount to EUR 14.28 billion, of which EUR 5.6 billion would apply to Lithuania, and EUR 3.2 billion would apply to Estonia. Latvia has not yet approved its share of the financing.
The acting CEO added that the total project cost for Latvia might be around EUR 9.6 billion, including the EUR 5.5 billion for the first phase. The overall scope of the project is being reduced, and up to EUR 400 million might still be saved by optimising technical solutions.
It had been previously announced that the first phase in Latvia would cost EUR 6.4 billion, which would include the Misa-Riga airport link – a segment thought to cost around EUR 900 million. This section of the project is to be financed through public-private partnership.
Kivila said that once the project is split up into phases, the next step will be to optimise technical solutions. Between EUR 151.8 million and EUR 170.7 million, for instance, could be saved by optimising technical solutions for noise barriers. Another EUR 105.5 million could be saved in relation to road transport, and EUR 83.2 million could be spared by reducing road-related costs.
The CEO added that technical experts are now assessing possible cost savings, taking into account their long-term impact on functionality, costs and regulatory requirements.
Source: BNS
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