Baltic colleagues will need to look for solutions and additional funding to continue Rail Baltica railway projects together, because the costs are up for everyone, not just Latvia, said Minister of Transport Kaspars Briškens in an interview to LTV programme Šodienas jautājums.
He said he cannot voice the exact estimates as to the cost of implementation of the project in Latvia. He did say this information will be reported once design work is complete. “The number will be larger than initial estimates suggested,” said Briškens, because initial estimates performed several years earlier were inaccurate,
and the project was delayed.
Construction and material prices went up as well. The minister admits costs keep going up because there are continuous delays. He also told LTV that it was known from the start: there isn’t enough funding to complete Riga Central Station and Riga International Airport station.
LTV mentions that in total the project may cost approximately EUR 7.8 billion.
“I am prepared to go with my Baltic colleagues to our European partners to implement this project in two EU planning periods in a way that would allow Latvia and other Baltic States afford it,” Briškens said in his interview.
On Thursday, the 28th of September, he has a meeting scheduled with Prime Minister Evika Siliņa and Minister of Finance Arvils Ašeradens to discuss the project and look for a solution.
Also read: Latvia’s Minister of Finance says next year’s budget expenditures will reach EUR 16.1 billion