Lietuvos Geležinkeliai (Lithuanian Railways) has signed a €68 million loan with the European Investment Bank (EIB) to finance rail infrastructure and rolling stock projects.
The loan will fund two major projects. The first is the renewal, electrification and double-tracking of the railway between Kena, Vilnius, Kaišiadorys, Radviliškis and Klaipėda.
The upgraded route will remove a significant bottleneck and allow longer, heavier freight trains to use the corridor.
Albertas Šimėnas, deputy director general of Lithuanian Railways, said: “Modernisation of railway infrastructure is one of our top priorities.
“Our long-lasting cooperation with European Investment Bank contributes to the implementation of a variety of projects that are significant not only for Lithuania, but for the whole of Europe too.”
The loan will also finance the procurement of seven new three-car DMUs.
EIB vice-president Jan Vapaavuori, responsible for operations in the Baltic countries, added: “Lietuvos Geležinkeliai is an essential chain link in the Lithuanian economy and the EIB is glad it can contribute to this important modernisation programme, which will benefit all those Lithuanians who use the railways on a daily basis.”
