The Estonian government supported making a down payment of EUR 1.7 million to the Estonian enterprise OU Rail Baltic of the Rail Baltic joint venture RB Rail AS to cover its operating costs. Accordingly, the state will make the payment to OU Rail Baltic Estonia. RB Rail AS is the central coordinator for the Rail Baltica project. The sum to be paid by Estonia is planned to be taken from the 2017 state budget. Similar down payments were also made in 2014-2016.
Of the EUR 1.7 million, EUR 1 million will be paid for increasing the nominal value of equity capital and the rest is above par value. From this, EUR 650,000 will be paid to RB Rail AS, including EUR 1 per nominal value of each share and EUR 649,999 above par value. The government will grant necessary authorization to the minister of Economic Affairs and Infrastructure for these procedures.
Latvia and Lithuania will make similar payments to RB Rail AS.
Share on:
