Lithuanian rail company Lietuvos Gelezinkeliai (LG)’s board approved a long-term investment plan in railway development, modernization and increase of capacities. Acording to the plan, the company will invest nearly EUR 7 billion by 2030. The biggest investment will be the implementation of the Rail Baltica project.
Lietuvos Gelezinkeliai intends to attract a large share of the money from outside sources, mainly European Union funds. The remaining part will be covered by the company.
„This is a fundamental change in the management of the entire group of companies. Investments, their management and prioritisation have not been implemented consistently in the group so far. By implementing this change, we are ready to substantially strengthen the infrastructure and increase its capacity”, Mantas Bartuška , General Manager of Lietuvos Gelezinkeliai, said.
This is the first time Lietuvos Gelezinkeliai comes up with a long-term investment plan, thus, the changes will open new opportunities for partners of the company, will strengthen the main connections with Klaipeda port and international markets. Among other things, it is planned to reduce train noise, increase their speed, upgrade rolling stock and reduce environmental impact – using greener and resource-efficient energy.
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