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.

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