Latvian railway company Latvijas Dzelzcels has signed a loan agreement with Swedbank for 37.76 million euros, The Baltic Course informs. The loan consists of two investment credits for a term of seven and ten years, respectively.
The funding will be used for the company’s investment and infrastructure projects. This year, the company plans to invest 166.73 euros million in railroad development, according to Latvijas Dzelzcels Vice-President Aivars Straksas. “We are glad that our financial activities have been appreciated, and thanks to this loan, we will be able to complete our investment plan,” said Straksas.
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