To discuss broader cooperation opportunities aimed at attracting international investor attention and promoting alternative funding, including private investments, for the Rail Baltica project, the central coordinator of the project, RB Rail AS, met with the heads and their deputies of the external economic representations of the Investment and Development Agency of Latvia (LIAA) abroad. There is good potential for attracting private investors, and initial discussions with international companies have already taken place.
During the meeting, RB Rail AS representatives informed LIAA about the project’s progress, the results of the updated cost-benefit analysis study, and the development of the financing plan, which also includes the attraction of alternative funding for the implementation of the Rail Baltica project. As emphasized by LIAA Director Raivis Bremšmits, “The strategic importance of Rail Baltica has only grown in recent years, and therefore we at LIAA are ready to get involved to help attract the necessary investments for the project’s implementation. We will work closely with the Rail Baltica team to prepare an attractive offer for investors to participate in the development of the Rail Baltica infrastructure.”
During the meeting, both parties agreed to actively collaborate, regularly exchanging information to strategically approach potential investors. One of the key tasks mentioned was identifying specific stages and elements of the Rail Baltica project that could be attractive to private investments. This would provide a clear understanding of the opportunities and limitations of attracting investments. It is also necessary to determine which stages might require state budget support, as private investments may not be feasible. It was emphasized that urgent political agreement is needed on the scope of the first stage in Latvia to continue the project’s implementation and ensure the necessary funding.
“We are optimistic about LIAA’s extensive network of contacts worldwide to jointly explore private investment opportunities and ensure the project’s further development. With the support of the agency’s colleagues, initial meetings with significant international participants, including a major French bank and Japanese infrastructure developers, who have shown interest in the project, have already taken place,” said Arnis Kākulis, a member of the RB Rail Council.
Arnis Kākulis also emphasized that the project has reached a significant milestone – the design work on the priority sections of the project is nearing completion, and construction of the main route in the southern section of Latvia is planned to start in the coming months. The project already involves more than 300 international and Baltic partners, and contracts with suppliers worth more than 4.7 billion euros have been concluded. The partnership and interest of potential suppliers from the EU, USA, Japan, and other countries indicate a growing willingness and readiness of large foreign companies to work in the region, contributing to the project.