Further EIB support for Lithuanian Railways

Lithuanian Railways are set to benefit from new rolling stock following a US$65.3 million loan agreement with the European Investment Bank (EIB). After the support for the upgrading of railway infrastructure and purchase of new locomotives, this is now the third EIB operation aimed at modernising Lithuanian railways. “The EIB strongly promotes sustainable transport, and railways will remain one of the most energy-efficient and least polluting land transport modes. We therefore particularly welcome this agre
June 4, 2013 Read time: 2 mins
Lithuanian Railways are set to benefit from new rolling stock following a US$65.3 million loan agreement with the 4270 European Investment Bank (EIB).

After the support for the upgrading of railway infrastructure and purchase of new locomotives, this is now the third EIB operation aimed at modernising Lithuanian railways.

“The EIB strongly promotes sustainable transport, and railways will remain one of the most energy-efficient and least polluting land transport modes. We therefore particularly welcome this agreement with Lithuanian Railways, as the project will improve the competitiveness and attractiveness of rail transport services and consequently encourage passengers to switch from road to rail,” said EIB president Werner Hoyer.

“We must constantly renew our fleet, because failing to do so will leave us with few good to use wagons in five to six years from now. We are reacting to requests from our clients as well as growing demand for security and we seek to stay in competition” commented Stasys Dailydka, director general of Lithuanian Railways.

The EIB loan will enable the purchase of 590 new wagons, as well as three diesel and six electric multiple units for rail passenger traffic to renew the company’s existing fleet. The main use of the freight wagons will be for cross-border railway traffic between Lithuania and the CIS countries.

For more information on companies in this article

Related Content

  • EU urged to green-light revised cross-border enforcement proposal
    October 9, 2014
    Road safety campaigners and European traffic police have welcomed the agreement by EU transport ministers to back a change to rules on cross-border enforcement of traffic offences such as speeding. This comes on the heels of an Institute of Advanced Motorists report that 23,295 overseas drivers have escaped UK speeding penalties since January 2014. The European Commission published a revised cross-border enforcement law in July in response to a European Court of Justice ruling in May that said the exi
    Read More
  • Mexico City seeks solutions to improve air quality
    December 6, 2017
    David Crawford ponders prospects for one of the world’s most congested and polluted cities. In 1992, the United Nations named Mexico City as the world’s most polluted urban centre. In the first half of 2016, following the updating of pollution alert limits to meet international standards, Mexico recorded 115 days where ozone concentrations exceeded the acute exposure health limit.
    Read More
  • SNCF uses ITS to make crossings safer
    May 19, 2021
    There are too many deaths where road and rail intersect: Virginie Taillandier, smart level crossing project manager at French rail group SNCF, outlines how ITS communications can help
    Read More
  • Closer running and investment to boost capacity of Britain’s railways, says new report
    January 4, 2017
    Closer running to increase the frequency of train services, alongside investment in new railway infrastructure, are recommendations to boost UK rail capacity in the new report by the Institution of Mechanical Engineers and the Transportation Research Laboratory (TRL). The report, Increasing capacity; putting Britain’s railways back on track, makes recommendations to meet growing rail passenger demand, which is forecast to double by the 2040s. The Institution of Mechanical Engineers and TRL are offering s
    Read More

Highlighted Content