The Estonian government authorized the Ministry of Economic Affairs to make a contribution of EUR 924,000 to the share capital of OÜ Rail Baltic Estonia. Of the total sum, EUR 650,000 will be allocated by the holding company in the joint venture RB Rail AS.
The joint venture lacks income in the launch stage and the contributions are necessary to cover the running costs of the company and to carry out joint studies and consultations, as well as co-finance activities financed by the EU.
The remaining EUR 274,000 is used as OÜ Rail Baltic Estonia operating costs for 2016.
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